Aviva: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on Aviva shares, nudging up its target price for them from 494p to 500p, incorporating a new share count, changes to operating forecasts and recent acquisitions/disposals.
"Aviva has completed its footprint rationalization strategy," the broker notes, pointing out that this has enabled the UK insurer to strengthen its balance sheet, helped it adopt a more manageable position and allowed it to return 4.75 billion pounds to shareholders.
"If Aviva is able to deliver on its business transformation, we view the c7.6% 2023E dividend yield and c10.5% total return as attractive in the context of the sector," it adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Aviva has completed its footprint rationalization strategy," the broker notes, pointing out that this has enabled the UK insurer to strengthen its balance sheet, helped it adopt a more manageable position and allowed it to return 4.75 billion pounds to shareholders.
"If Aviva is able to deliver on its business transformation, we view the c7.6% 2023E dividend yield and c10.5% total return as attractive in the context of the sector," it adds.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.