Admiral Group upgraded to Buy from Hold at Deutsche Bank

Deutsche Bank upgraded Admiral Group (AMIGY) to Buy from Hold with a price target of 3,020 GBp, up from 3,000 GBp. The firm sees an environment for a stronger relative performance for the European insurers in 2025, supported by resilient balance sheets and a focus on diversified growth. This can be seen through the sector’s dividend-bond yield spread, which should create a source of alpha for the insurers in 2025, the analyst tells investors in a research note.