Panmure cuts target for IG Group stock to GBp 1,500

Published on 10/05/2026 at 15:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue is forecast down 14 percent in the third quarter of 2026. IG Group stock costs EUR 11.51 on October 5, 2026 after EUR 11.94, minus 3.60 percent.

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IG Group (ISIN GB00B06QFB75) was trading at EUR 11.51 at Lang & Schwarz on October 5, 2026 at 3:30 p.m. CEST, down 3.60 percent from the prior close of EUR 11.94. Proactive reported on October 5, 2026 that Panmure Liberum cut its target from GBp 2,000 to GBp 1,500 while retaining a Buy rating.

Guidance takes a sharp turn

Sharecast reported on October 2, 2026 that IG Group expects third-quarter 2026 revenue of GBP 240 million, compared with GBP 280.1 million in the third quarter of 2025. That implies a 14.32 percent year-over-year decline.

The company also reduced 2026 revenue-growth guidance from 10.00-15.00 percent to mid-single-digit percentage growth. Over-the-counter revenue retention fell to 70.00 percent in the third quarter, versus an 80.00 percent average since market-making optimization measures were introduced.

Customer growth meets weaker retention

The figures point to a mixed operating picture. Next.io reported on October 5, 2026 that OTC customer income rose 8.00 percent year over year, while OTC net trading revenue fell 18.00 percent. The contrast supports Panmure's view that retention, rather than customer demand, is the immediate earnings issue.

For fiscal year 2025, IG Group reported total revenue of GBP 1,123.4 million and profit before tax of GBP 563.7 million. Adjusted profit before tax was GBP 499.2 million, with an adjusted margin of 46.40 percent.

Underdog dates gain importance

Next.io reported that IG Group plans an Underdog seminar on October 8, 2026 and a strategy update on October 22, 2026. The pending acquisition is valued at up to USD 1.3 billion, giving the events a direct link to the group's growth narrative.

On the London Stock Exchange, IGG.L was at GBp 965.50 at 2:32 p.m. BST on October 5, 2026. Its 52-week range was GBp 930.50 to GBp 1,956.00, while market capitalization stood at GBP 3.2 billion on the same date.

Stock reprices the earnings risk

IG Group stock was trading at EUR 11.51 at Lang & Schwarz on October 5, 2026 at 3:30 p.m. CEST, versus the EUR 11.94 prior close at Lang & Schwarz on October 2, 2026, a minus 3.60 percent move. The further course of trading is shown by the continuously updated real-time quote of IG Group stock.