JPMorgan upgraded Hiscox to Overweight from Neutral with a price target of 1,300 GBp, up from 1,200 GBp. The analyst remains positive on European Insurers in spite of continued underperformance over 2023 to date. The firm sees “numerous attractions” including a 7% total capital return, the potential for positive surprise on margins and top-line growth. JPMorgan shifted the stocks on its Analyst Focus List, adding Aviva and Hannover Re and removing Swiss Re and Prudential. It tells investors to focus on capital return as well as reinsurance and restructuring stories.
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Read More on HCXLF:
- Hiscox price target raised to 1,170 GBp from 1,130 GBp at Barclays
- Hiscox price target raised to 1,130 GBp from 1,070 GBp at Barclays
- Hiscox downgraded to Equal Weight from Overweight at Morgan Stanley
- 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
