Hiscox Downgraded to ‘Sell’ Amid Prolonged Underperformance and Elevated Risks
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Hiscox has been downgraded to a 'Sell' rating by Jefferies analyst Derald Goh, with a price target of 1,068.00p. The downgrade is attributed to prolonged underperformance, elevated underwriting risks, and insufficient margins. Hiscox's return on equity (ROE) is expected to remain weaker than peers until 2028, contributing to a projected 20% downside in share price. The company's earnings outlook is also below consensus for key segments, justifying the downgrade to Underperform.
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