Admiral shares have been downgraded by Credit Suisse after the investment bank indicated that there is little potential upside within the stock.
Credit Suisse has cut its target price in Admiral shares from 1300p to 1250p, as it downgraded Admiral shares from outperform to neutral.
A number of reasons contributed to the downgrading of the shares including increased pressure on pricing within the car insurance industry and falling vehicle growth.
Its new target price as approximately 5% higher than Admiral’s current share price.
