UPDATE: UBS Starts Genworth Financial (GNW) at Neutral; Despite Strategic Review, Story to Stay The Same

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July 18, 2012 7:41 AM EDT
Get Alerts GNW Hot Sheet
Price: $9.79 --0%

Rating Summary:
    7 Buy, 6 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 6 | New: 6
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(Updated - July 18, 2012 11:31 AM EDT)

UBS initiates coverage on Genworth Financial (NYSE: GNW) with a Neutral. PT $5.50.

Analyst, Suneet Kamath, said, "We rate GNW Neutral, and view the stock as largely a play on macro economic developments. In our view, the company's business unit sensitivity to macro variables limits management's ability to drive predictable ROE improvement. Since, 2007, ROE's have deteriorated across all segments, not just the headline U.S. mortgage insurance (MI)...Despite strategic review, possibly few options to change story near-term...Despite solid new business profitability, low sales levels mute impact."

For an analyst ratings summary and ratings history on Genworth Financial click here. For more ratings news on Genworth Financial click here.

Shares of Genworth Financial closed at $5.30 yesterday.

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