LGGNY - Legal & General: 3 Reasons I Remain Bullish Ahead Of 2023 Results

2024-02-01 06:29:18 ET

Summary

• Legal & General stock has done okay since prior coverage in May, slightly outperforming broader European financials amid a good run for equities in general.
• There are good reasons to remain bullish ahead of full-year results, with the macro environment looking supportive of earnings and credit risk appearing to moderate.
• The valuation remains attractive, too, with a 7.7% dividend yield not reflecting sound medium-term growth potential.

Shares of British life & savings giant Legal & General (LGGNY)(LGNNF)(L&G hereafter) have done okay since my last update on the firm in May, with the ADSs delivering a circa 15% total return in that time and more than holding their own against broader European financials....

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