Lloyd’s Insurer Beazley Gains New Bull to Bolster Unique Status

The only stock in the FTSE 100 with buy recommendations from every analyst that covers it just gained another bull.

Beazley Plc was named a ‘top pick’ by Berenberg, which gave the Lloyd’s of London insurer a 1,150 pence price target, higher than that of any other bank tracked by Bloomberg. The shares gained as much as 2.8% to a record 957 pence.

Berenberg is the sixteenth broker with a buy-equivalent rating on the firm, which counts cyber insurance among its specialisms. It’s the only UK blue-chip stock without a hold or sell recommendation from an analyst, according to data compiled by Bloomberg.

Analysts Michael Christodoulou and Michael Huttner think risks are skewed to the upside, even after recent outperformance. They expect an upturn in cyber insurance pricing to benefit Beazley following two years of price declines.

Topics
Carriers
Excess Surplus
Lloyd’s

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