FBD stock moves from ‘add’ to ‘buy’

GOODBODY STOCKBROKERS changed its recommendation on FBD Holdings yesterday from “add” to “buy”.

Analyst Anna Lalor said that having fallen 30% from its recent M&A induced peak of €34, FBD’s share price now offers 33% upside to its 12-month price target of €31.70. “As a result we are raising our recommendation on the stock from add to buy.

“FBD has plenty of room to grow in urban markets, where it has a low market share and there are tentative signs that pricing of motor premiums, 50% of the market, is starting to improve,” Ms Lalor said.