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Investing.com - Citi downgraded Admiral Group Plc (LON:ADML). (LON:ADM) (OTC:AMIGY) from Buy to Neutral while raising its price target to GBP35.35 from GBP33.70.
The downgrade comes despite Citi increasing its 2025/26 earnings per share estimates for Admiral by 3-4%, primarily due to higher projected investment income. The firm also introduced 2027 estimates in its latest analysis.
Admiral Group shares have performed strongly in 2025, delivering approximately 30% total return year-to-date according to Citi’s research.
The rating change reflects Citi’s view that news flow for Admiral will be "less positive" moving forward, specifically citing declining UK motor insurance rates as a key factor.
With the new price target representing a potential 13% total expected return, Citi determined a Neutral rating more accurately reflects Admiral’s current market position and growth prospects.
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