RBC Capital resumes coverage of Aviva at 'outperform'
By Michele Maatouk
Date: Monday 13 Oct 2025
(Sharecast News) - RBC Capital Markets resumed coverage of Aviva on Monday with an 'outperform' rating and 800p price target.
"With the acquisition of Direct Line complete, Aviva is positioned for enhanced earnings per share growth and returns on capital, reflecting a shift towards a higher proportion of 'capital-light' business," the bank said.
"As such, we see the 13 November 'In Focus' event as a positive catalyst, where new, above consensus, group targets will be unveiled, supported by DLG synergy upside."
In addition, RBC said that given Aviva's now larger market cap and more diversified profile, the EU composites become more appropriate peers.
"Aviva's 10x FY26 estimared price-to-earnings and 17% EPS compound annual growth rate stand out as attractive versus this sub-sector, supporting our outperform rating," it said.
At 1030 BST, the shares were 1% higher at 678.80p.
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