Market Overview

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

Related AV
Markets Close Higher Following Strong November Auto Sales
Aviva Volatile Amid Merger Reports

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

 

Related Articles (AV)

Around the Web, We're Loving...

Get Benzinga's Newsletters