• (PLX AI) – Topdanmark shares fell 1.8% on Monday after analysts at SEB downgraded the stock to sell from hold, saying the premium valuation was not justified.
  • • Price target cut to DKK 386 from DKK 392
  • • The stock's premium to Sampo, Tryg and Alm. Brand is not justified, SEB said, adding it was unlikely Sampo would attempt a full takeover of the company at these levels
  • • Analysts at Danske Bank disagreed, saying the Life divestment makes a takeover even more likely; however, Danske maintained a hold rating on Topdanmark, with price target DKK 425
  • • Meanwhile, Nordea maintained a buy rating on Topdanmark, saying the insurer is likely to see combined ratio improvement and lower earnings volatility after selling its Life business
  • • Topdanmark also may distribute excess capital to shareholders after the Life deal is completed, according to Nordea
  • • Nordea lifted its price target to DKK 460 from DKK 450

Quelle: PLX AI