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Deutsche Bank Upgrades Aegon NV (AEG) to Buy

August 18, 2010 9:23 AM EDT Send to a Friend
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Price: $8.42 --0%

Rating Summary:
    4 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 65
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Deutsche Bank upgrades Aegon NV (NYSE: AEG) from Hold to Buy and raises the price target from €5.20 to €5.60.

The firm says, "AEGON announced that it had received approval of its viability plan from the European Commission and in conjunction announced that the repayment of the €2bn Dutch government loan would attract a penalty of 40% from the 50% previously agreed... We had previously assumed repayment would require €1.4bn of equity raising/disposals to adequately satisfy the company’s key capital parameters. Keeping these parameters consistent with our previous assumptions we now assume that AEGON would only have to raise €0.8bn".

Shares of Aegon are up 1.2% to $5.94 this morning.

AEGON N.V. (AEGON) is a provider of life insurance, pensions and asset management.

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