RBC Capital Markets upgraded Admiral on Friday to ‘outperform’ from ‘sector perform’ and lifted the price target to 3,560p from 3,100p after the insurer’s full-year results.
Admiral Group
13 March 2026 08:22:24
Source: Sharecast
The bank said it was particularly encouraged by the company’s willingness to provide a multi-year view of profits and earnings per share growth, which is something Admiral has not done in the past.
"While made necessary by near-term headwinds to UK Motor profit growth, good results outside of UK Motor supported a new target to double those profits by 2028," it noted.
RBC said it continues to assume only a modest cyclical improvement in UK Motor profits, but momentum should improve through the year.
"On double-digit increases to EPS, helped by a new buyback, we raise our target EPS multiple from 13x to 14x, and our recommendation to outperform," it said.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
