M&G Plc downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded M&G Plc to Hold from Buy with a price target of 230 GBp, down from 240 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.