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Admiral upgraded by Deutsche

19 September 2017 15:44

Equity analysts at Deutsche Bank have upgraded their recommendation on Admiral (LON:ADM) to hold (from sell) due, in part, to the shifting landscape in the sector along with the 20% share price decline since the beginning of the year.

The broker added that some of the insurer's "competitive edge has now been restored with the partial reversal in the Ogden rate".

Deutsche upped its target price to 1,880 pence (from 1,845 pence).

Meanwhile, in the same insurance note analysts reaffirmed their buy call on sector peer esure but lowered their target to 300 pence (from 315 pence).

At 3:44pm:

(LON:ADM) Admiral Group PLC share price was +0.5p at 1824.5p

(LON:ESUR) esure Group plc share price was -0.1p at 278.4p

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