Deutsche Bank 'supportive' on Legal and General shares ahead of results

Analysts at Deutsche Bank said their view on shares of Legal&General ahead of its next set of financial results was "supportive".

However, the likelihood of continued market volatility and of "clearer positive catalysts and valuation upside" at rival Aviva tempered their enthusiasm.

Among other things, analyst Oliver Steel said that he would be looking for updates on the trade-off between increased bulk annuities and greater competition, evidence that solvency ratios would remain stable within current forecasts for annuity and dividend growth and as regarded the double-edged sword of higher dividend yields and rising corporate bond spreads.

He also noted the possibility of a new chief executive officer being named at some point during the year.

Oliver had a 'buy' recommendation and 335.0p target price for the shares of the financial services outfit.