Top of the Street: Aviva, Legal & General, M&G, Prysmian

Legal & General

13/08/2026 12:40

Aug 13 - A round-up of notable broker activity this morning from Europe's top-ranked* analysts:

** J.P. Morgan upgrades British life insurer Aviva AV.L to "overweight" from "neutral," citing the company's superior cash generation and attractive capital returns compared to its peers
** The brokerage downgrades Legal & General LGEN.L to "underweight" from "neutral," as weaker implied free cash flow raises concerns about the quality of the company's long-term profits
** J.P. Morgan also cuts UK life insurer M&G MNG.L to "underweight" from "neutral," noting that the stock appears less attractive after its recent re-rating and capital returns remain constrained
** Bernstein downgrades Italy's Prysmian PRY.MI to "market-perform" from "outperform" saying most of the upside is now reflected in expectations 
   

(*Analyst rankings from Thomson Reuters StarMine. The scale is from 1-star to 5-star with 5 being the best. Analysts are ranked on earnings accuracy as well as relative performance of recommendations over trailing 12-month & 24-month periods.)


 (Reporting by Athina Karolidou and Marta Serafinko)
 ((athina.Karolidou@thomsonreuters.com))