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Direct Line Insurance upgraded to Buy from Sell at Citi
The Fly

Direct Line Insurance upgraded to Buy from Sell at Citi

Citi analyst Alexander Evans double upgraded Direct Line Insurance to Buy from Sell with a price target of 188 GBp, up from 136 GBp. The risk is now "skewed to the upside" following the stock’s recent selloff, the analyst tells investors in a research note. The firm believes there is "sufficient solvency self-help" to avoid an equity raise and that the motor pricing cycle has bottomed.

Published first on TheFly

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