Berenberg cuts target price for Aviva, keeps at ‘buy’

by | Aug 7, 2023

(Sharecast News) – Analysts at Berenberg kept their recommendation for shares of Aviva unchanged at ‘buy’ and lowered their target price following the life insurer’s adoption of the IFRS 17 accounting standard.
When djusted to reflect that change in standard, Aviva’s full-year 2022 numbers had come in a little below market estimates.

Nevertheless, they were still confident of the group’s ability to generate cash and capital.

Indeed, they judged that Aviva still had the strongest capital-return profile in the UK insurance sector.

What’s more, the accounting had no impact on Aviva’s ability to generate capital, they noted.

Even so, it cut its target price from 532.0p to 481.0p.

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