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Ashmore Group's fair value estimate has been adjusted from £2.06667 to £1.998, while individual price targets now range from 208 GBp to 285 GBp. These shifts reflect a split view, with some analysts lifting targets and ratings on the back of perceived upside, and others trimming fair value and maintaining a cautious stance. As you read on, you will see how these conflicting calls fit together and what to watch to keep up with the evolving Ashmore narrative.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
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Jefferies turned more positive on Ashmore Group in February 2026, upgrading the shares to Buy from Hold and setting a 285 GBp price target, up from 170 GBp, which points to what the firm sees as attractive upside at current levels.
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Jefferies links its view to an emerging market cycle "turning point," which, if sustained, could support Ashmore's positioning as a specialist in this area and help underpin the higher valuation it assigns.
🐻 Bearish Takeaways
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Morgan Stanley keeps an Underweight rating, even after raising its price target from 195 GBp to 208 GBp in February 2026, signalling caution around the risk and reward trade off at that valuation.
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The later move by Morgan Stanley to lower its Ashmore Group price target by 15 GBp highlights ongoing reservations about execution and growth prospects, in contrast to the more optimistic stance taken by Jefferies.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!
We've flagged 4 risks for Ashmore Group. See which could impact your investment.
How This Changes the Fair Value For Ashmore Group
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Fair value reduced from £2.06667 to £1.998.
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Revenue growth assumption revised from 13.90% to 12.29%.
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Profit margin updated from 32.86% to 32.31%.
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Future P/E multiple moved from 26.16x to 26.79x.
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Discount rate adjusted from 8.11% to 8.04%.
Never Miss an Update: Follow The Narrative
Narratives link Ashmore Group's business story to a set of financial assumptions and a fair value estimate that respond when new data or views come through. They help you see how changing expectations on earnings, margins and risks fit together in one place.
Head over to the Simply Wall St Community and follow the Narrative on Ashmore Group to stay up to date on:
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How rising client activity, with more stable subscriptions and fewer redemptions, feeds into assumptions for revenue growth and assets under management.
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The impact of Ashmore Group's push into equities, alternative assets and private market projects across emerging markets such as India and Colombia on future earnings potential.
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Key pressure points like lower net revenue, reduced management fee margins, weaker adjusted EBITDA and softer EPS that could challenge the durability of the earnings story.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include ASHM.L .
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