J.P. Morgan Maintains Genworth Financial Rating

J.P. Morgan reports that the third quarter results for Genworth Financial, Inc. GNW “affirm our cautious stance on GNW.” J.P. Morgan said that although the valuation appears enticing, its fundamental outlook is cautious. “We are uncertain about the timing of a turnaround in US MI results, which is crucial for an improvement in Genworth's overall returns,” J.P. Morgan writes. “As a result, we recommend investors avoid the stock even if it pulls back.” J.P. Morgan maintains its Neutral rating. Genworth Financial currently trades at $12.58.