Analysts at Liberum upgraded their recommendation for shares of Legal&General from ´hold´to ´buy, telling clients that it was the European insurer offering the most synergies thanks to its competitive advantage in annuities and asset management.
And after examining the assets, they concluded that there was far less risk than consensus presumed.
Furthermore, impending capital reform was set to reduce volatility.
So with less risk than implied by consensus prices, 23% upside and a 7% yield they decided to upgrade the shares and raise their target price from 290.0p to 340.0p
