Aegon reinstated with a Neutral at BofA

BofA reinstated coverage of Aegon with a Neutral rating and EUR 5 price target. The sale of Netherlands operations allows Aegon to crystalise the value of a nonstrategic asset, but as few synergies exist across the remainder of the Group, it also raises structural questions, said the firm, which thinks that over time Aegon could sell its remaining European assets to focus on its U.S. business.