UPDATE: Mediobanca Securities Downgrades Aegon NV to Neutral Following Outperformance
Mediobanca Securities downgraded Aegon NV (NYSE: AEG) from Outperform to Neutral.
Mediobanca Securities commented, "The shares went up 24% over the last three months and outperformed the DJ Stoxx Insurance by 11%. At current levels we still calculate 15% absolute upside to our price target, which is based on our scenario analysis (see also European Insurance: P&C game change – selective in life from 17 Sept 2012). However, this compares with 14% upside for our universe leaving only 1% relative upside (versus 10% when we initiated coverage on 17 Sept 2012)."
Aegon NV closed at $6.67 on Monday.
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