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Which 3 Stocks Would Warren Buffett Buy?Broker snap: UBS upgrades Resolution to buy
17-01-2012 15:06
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UBS has upgraded life assurance group Resolution from neutral to buy in its assessment of the UK life and non-life insurance sector.
"Although the outlook remains relatively challenging for life, and unexciting for non-life, we think we have identified promising niche," the Swiss broker said.
"Valuation multiples are not generally demanding and the sector offers an attractive alternative to the banks with limited exposure to the euro area."
UBS highlights its main reasons for the upgrade, including: its strategic response to the tough home market; significant earnings per share upside; a supportive valuation; and a £250m buy-back in the second quarter.
Resolution was gaining 1.9% at 267p in afternoon trading.
BC
"Although the outlook remains relatively challenging for life, and unexciting for non-life, we think we have identified promising niche," the Swiss broker said.
"Valuation multiples are not generally demanding and the sector offers an attractive alternative to the banks with limited exposure to the euro area."
UBS highlights its main reasons for the upgrade, including: its strategic response to the tough home market; significant earnings per share upside; a supportive valuation; and a £250m buy-back in the second quarter.
Resolution was gaining 1.9% at 267p in afternoon trading.
BC
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| Resolution Ltd. (RSL) share price |
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