M&G (LON: MNG) shares are trading higher Monday morning on the back of an upgrade by analysts at investment bank JPMorgan.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.
Key points:
- M&G shares are up over 1% Monday
- JPMorgan upgraded the stock
- The investment bank also raised the MNG price target to 220p
The firm raised the stock to Neutral from Underweight, assigning a new price target of 220p, up from 195p per share.
Analysts at the bank said that after an extended period of poor relative performance, they believe it is now time to revisit the UK life sub-sector, “particularly if we are close to ‘peak yields' in the UK.”
M&G shares are currently up over 1% from Friday's close. The stock hit a high of more than 207p earlier in the session but is trading at 205.7p at the time of writing. This year, M&G is up over 8%.
In September, MNG reported its interim results, posting an adjusted operating profit of £390 million, up from £298 million in the first half of 2022.
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YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.