Aviva Rated Hold as Fair Valuation and Strong 9% Yield Balance Execution Risks; Price Target Raised to 637p
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Derald Goh from Jefferies has downgraded Aviva plc to a Hold rating with a price target of 637p. He believes the shares are fairly valued after a recent pull-back, with modest upside potential. The stock offers a strong yield of about 9%, supported by good solvency and moderate leverage. However, Goh notes execution risks in U.K. non-life insurance and competitive pressures in the pension risk transfer sector, which contribute to his neutral stance.
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