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RBC Capital Markets has reiterated its outperform rating on IG Group Holdings Plc (LSE:IGG), arguing the market has punished the trading platform too harshly for its acquisition of prediction market operator Underdog. Analyst Ben Bathurst set a price target of 1,850p, implying total returns of around 43% from the 1,332p at which the shares closed on 13 August.

RBC Capital Markets has backed IG Group Holdings Plc (LSE:IGG) after the sharp fall that greeted last month's acquisition of Underdog, arguing the market has fixated on regulatory risk while ignoring what underpins the deal. The broker keeps its outperform rating and 1,850p price target, implying 39% upside from 1,371p.