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Jefferies has raised its price target on Quilter PLC (LSE:QLT) to 245p from 220p and reiterated a 'buy' rating after lifting its forecasts by around 10%. Quilter, the London and Johannesburg-listed wealth manager, is expected to benefit from strong equity markets, which the broker estimates delivered a 13% tailwind to assets during the second quarter.

Shares in Quilter PLC (LSE:QLT) rose 4.3% to 188p on Wednesday morning after the wealth manager reported record first-quarter inflows, with strong demand for its platform offset by volatile markets. The FTSE 250-listed group said core net inflows reached £3.1 billion in the three months to March, up 35% year-on-year and the first time quarterly inflows have exceeded £3 billion.