Deutsche Bank Downgrades Aviva plc (AV) to Hold, Risks Rises With Stock Price

Following a greater than 40 percent jump since its June lows, Deutsche Bank downgraded Aviva plc (NYSE: AV) from Buy to Hold.

"Though much of this has been driven by the improved macro backdrop, it also reflects greater confidence in Aviva itself following the unveiling of the new management strategy in July," the analyst said. "We remain strongly supportive of the group's plans; however, even if these are delivered in full (which for the cost savings won't be clear before 2014), the narrowing PE discount to the sector now leaves little room for disappointment."

For an analyst ratings summary and ratings history on Aviva plc click here. For more ratings news on Aviva plc click here.

Shares of Aviva plc closed at $11.85 yesterday.

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