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UPDATE: Bank of America Downgrades Aviva to Underperform on Dilutive Restructuring

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Bank of America lowered its rating on Aviva (NYSE: AV) from Neutral to Underperform.

Bank of America noted, "Aviva shares have run well on the back of comforting macro newsflow and hopes that restructuring efforts will bring a long period of share price underperformance to an end. The stock has risen by more than 30% since the low in July this year, outperforming the European market by more than 20% and the insurance sector by close to 10%. … These are not demanding multiples, but we do not see scope for a significant further re-rating, particularly given potentially dilutive restructuring efforts ahead."

Aviva closed at $11.68 on Monday.

Latest Ratings for AV

DateFirmActionFromTo
Sep 2013BerenbergDowngradesHoldSell
Sep 2013MediobancaInitiates Coverage onUnderperform
Aug 2013Canaccord GenuityUpgradesHoldBuy

View More Analyst Ratings for AV
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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