AVIVA shareholders are braced to see whether the insurance giant can regain some momentum this week after its share price has slumped to trade no higher than 30 years ago.
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Shares in the firm have stalled in recent months to trade down over 25 per cent this year, and analysts have been paring back their expectations for the stock, with Credit Suisse, Deutsche Bank and RBC all recently trimming their target price.
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Investor and analyst eyes will therefore be trained on updates to Aviva's plans to slash £400m off the cost base between 2018 and 2023. Cevian has pushed for the plans to go further with £500m trimmed off costs by 2023.
Aviva produced an operating profit of £1.1bn a year ago although analysts expect a dip after new rules on pricing and the impact of business disposals.
(c) 2022 City A.M., source