Morgan Stanley downgraded Hiscox to Equal Weight from Overweight with a price target of 1,233 GBp, down from 1,387 GBp. The analyst says strong fundamentals support an attractive view of the European insurance sector. It prefers reinsurance and multi-liners and is cautious on the U.K. Supportive themes for the sector are pricing momentum and IFRS 17 clarity, while asset risk remains an overhang, the analyst tells investors in a research note.
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Read More on HCXLF:
- Hiscox price target lowered to 1,230 GBp from 1,245 GBp at Berenberg
- Hiscox price target lowered to 1,387 GBp from 1,404 GBp at Morgan Stanley
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- Hiscox price target lowered to 1,550 GBp from 1,575 GBp at UBS
