RBC Capital upgraded Hiscox (HCXLF) to Outperform from Sector Perform with a price target of 1,600 GBp, up from 1,400 GBp. While the firm was previously cautious on Hiscox, the “narrowing of the multiple gap, and strong results at first half 2025 with raised capital return expectations,” have changed the firm’s relative preference in Hiscox’s favor.
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