Derald Goh Reiterates Sell on Legal & General, Citing Weakening Income Profile, Constrained Capital Flexibility and Slower Dividend Growth
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Derald Goh from Jefferies has downgraded Legal & General to a Sell with a price target of p185.00, citing a weakening income profile, constrained capital flexibility, and slower dividend growth. He notes that the company's ability to generate surplus is barely enough to fund dividends, limiting capital returns and strategic maneuvers. Compared to other high-yield financials, LGEN shows slower dividend growth and a weaker balance sheet, justifying a lower valuation. Goh has a 16.0% average return and a 79.03% success rate on his stock recommendations.
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