Hiscox upgraded to Buy from Hold at Jefferies

Jefferies upgraded Hiscox (HCXLF) to Buy from Hold with a price target of 1,500 GBp, up from 1,000 GBp. Hiscox’s investor day was “a surprise,” not only because it featured a near-term commitment to step-change the dividend, but also due to the medium-term ambition to accelerate Retail growth and a long-term efficiency program, the analyst tells investors. The firm believes that “this investor day will be remembered as a landmark moment,” the analyst added.