Aviva (OTCMKTS:AVVIY) Upgraded to Buy at Zacks Investment Research

Aviva (OTCMKTS:AVVIY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, March 21st. The firm currently has a $16.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 9.59% from the company’s previous close.

According to Zacks, “Aviva has established a competitive position in North America. In the US, the world’s largest savings market, Aviva is the leading provider of indexed annuity and indexed life insurance products. Its principal activity is the provision of financial products and services, focused on the following lines of business: long-term insurance and savings business, fund management and general insurance and health. The company’s business is managed on a geographic basis through a regional management structure based on four regions, U.K., Europe, North America and Asia Pacific. The four regions function as five operating segments as, due to the size of the U.K. region, it is split into two operating segments, U.K. Life and U.K. General Insurance, which undertake long term insurance and savings business and general insurance respectively. “

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Other equities analysts have also recently issued reports about the company. Goldman Sachs upgraded Aviva from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 14th. Bank of America cut Aviva from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 13th.

Aviva stock traded up $0.09 during midday trading on Wednesday, hitting $14.60. 86,337 shares of the company’s stock were exchanged, compared to its average volume of 146,580. Aviva has a 52-week low of $12.92 and a 52-week high of $15.21. The stock has a market cap of $29,167.44, a price-to-earnings ratio of 10.50 and a beta of 1.11.

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About Aviva

Aviva plc provides life insurance, general insurance, accident and health insurance, and asset management products and services worldwide. The company's long-term insurance and savings products include Annuities; equity release products; pension products, such as personal and group pensions, stakeholder pensions, and income drawdown; protection products, including term assurance, mortgage life insurance, flexible whole of life, and critical illness cover and group schemes; bonds and savings comprising single premium investment bonds and regular premium savings plans; and investment products consisting of unit trusts, individual savings accounts, and open ended investment companies.

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