Investec savages Aviva over potentially irreversible decline
Investec Bank has issued a no-holds barred research note on Aviva and suggested that the provider may be in permanent decline as it cut the insurer’s target share price from 422p to 316p and advised investors to reduce their holdings.
Under the heading of "Recovery may not occur" analyst Kevin Ryan summed-up: "In our view, halting the shrinkage of Aviva's earnings, assets and dividends has now reached a critical stage. We are not sure if the decline can be reversed."
Clearly wrong
In the research note, which tackled all parts of Aviva, including both general and life insurance, the bank accepted that it was formerly a supporter of Aviva and had previously suggested the company could return to pre-eminence but that the title of
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