Direct Line Rises to One-Month High as JPMorgan Upgrades
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
DLG LN (Direct Line Insurance Group PLC)
ESUR LN (esure Group PLC)
HSTG LN (Hastings Group Holdings PLC)
People
Edward Morris (JPMorgan Chase Bank NA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283
(Bloomberg) -- Direct Line Insurance rises as much as 3.5% to 353p, highest since Feb. 24, on almost 3x 20-day average volume.
- JPMorgan upgrades to overweight as underperformance after Ogden rate cut looks increasingly disproportionate, analyst Edward Morris writes in note
- Co. has strong brands, conservative balance sheet and long- term expense opportunity
- Direct Line now top pick in U.K. non-life sector
- JPMorgan downgrades eSure and Hastings to neutral due to valuation despite their more favorable earnings trajectory
- Hastings -2% on Friday; eSure -0.6%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
Tickers
DLG LN (Direct Line Insurance Group PLC)
ESUR LN (esure Group PLC)
HSTG LN (Hastings Group Holdings PLC)
People
Edward Morris (JPMorgan Chase Bank NA)
To de-activate this alert, click here
To modify this alert, click here
UUID: 7947283