Jefferies downgraded Direct Line (DIISY) to Hold from Buy with a price target of 165 GBp, down from 235 GBp. The firm sees limited upside opportunity in the shares, saying the industry-wide turn to deflation means that the time to raise prices ahead of inflation without materially contracting the policy count has now passed.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DIISY: