BEST OF THE BROKERS
AMLIN
Shares in blue-chip London market insurer Amlin have been treading water of late, according to Citigroup, which said while this represents a strong performance relative to the broader market, it fails to capture the group’s strategic progress and continued value creation. Citi upgrades its rating of Amlin to “buy” from “hold”.
AEGON
JP Morgan Cazenove upgrades Aegon to “neutral” and said the main positive is that CEO Alex Wynaendts continues to take the decisions needed to more attractively reposition Aegon in the long run. While Aegon had more to do than most in this respect, JP Morgan said that it likes the aggressive portfolio management of the company.
NESTLE
Morgan Stanley downgrades Nestle to “equal weight” and said it thinks further earnings upgrades are unlikely and consensus now reflects many of the positive attributes investors have come to rely on. Nestle remains the ‘gold standard’ in terms of operating performance and Morgan Stanley recommends holding the shares.