Aviva PLC (LSE:AV.)’s first quarter trading update is likely to be the prelude to further catalysts later in the year, according to Deutsche Bank.
Analyst Rhea Shah does not expect the update itself to act as a driver to the share price but will nonetheless show “mostly positive momentum continuing for the group.”
Shah has raised the price target for Aviva to 560p from 535p and retains a buy rating.
The Deutsche analyst sees Aviva as being in a quieter act - with a wait until operational improvement starts to show (likely with first half results) and the next piece of news-flow on capital return (likely with the full year results).
“We continue to view the shares as attractive, trading on 2024e cash-flow, dividend, and total return yields of 12%, 8%, and 11% respectively,” Shah stated.