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UBS downgrades Aegon on valuation into capital markets day

UBS downgraded Aegon (AEG) to Neutral from Buy with a price target of EUR 7.30, up from EUR 7.20, ahead of the capital markets day on December 10. The firm sees “marginal downside risk” to the fiscal 2027 free cash flow estimates for Aegon. UBS views the shares as fairly priced at current levels into the event.

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