Barclays analyst Ivan Bokhmat downgraded Direct Line Insurance to Underweight from Equal Weight with a price target of 173 GBp, down from 275 GBp. The analyst believes the CEO change, "strongly restricted" solvency capital and competition in U.K. personal lines all increase the likelihood of a capital raise, while the company’s operating performance is likely to remain soft in the first half of 2023.
Published first on TheFly
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