Corvus Capital Inc. 2007 Report & Accounts
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Interim Results for the six month period ended 31 March 2008.
Broker snap: Standard Life on Goldman's conviction buy list
23 Jul 2008
Goldman Sachs has initiated coverage on insurer and placed the stock straight on its "conviction buy" list, with a price target of 288p.
Goldman Sachs believes the company is the pick of the sector, with the most attractive risk/reward balance.
The broker also has on its conviction buy list, highlighting the scope for tangible book value inflation as the company offloads assets. Goldman maintains its 127p price target for the stock.
Elsewhere in the insurance sector Goldman's has cut to "neutral" from "buy", citing concerns over a possible disruption to its US Equity Indexed Annuity sales. Aviva's price target has been chopped to 639p from 707p.
The broker maintained its neutral rating on and cut the stock's price target to 665p from 741p.
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