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BUZZ-Direct Line: hits record after UBS hikes TP

Reuters - UK Focus

** Direct Line (Other OTC: DIISY - news) up c.1.6 pct to touch record high & features briefly among top FTSE-100 gainers after heavyweight UBS (NYSEArca: FBGX - news) raises TP on Britain's motor insurer

** UBS analsyt raises TP to 337p from 313p to reflect higher FY estimate on the back of higher reserve releases and benign weather

** 9 of 16 brokerages rate the stock "buy" or higher, 6 "hold" and 1 "sell" or lower; their median PT is 365p

** Shares (Berlin: DI6.BE - news) beat record set day earlier after co's H1 pretax profit from cont ops jumps 50 pct, coming in higher than analyst expectations

** Stock trades at forward P/E of 12.9x vs 15.7x peer median while counting closest competitors Admiral Group (LSE: ADM.L - news) , RSA Insurance and Aviva (Amsterdam: AW8.AS - news) (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)