Zurich: shares up on positive broker comment
(CercleFinance.com) - Shares in Zurich Insurance Group are inching up today, boosted by positive broker comments.
In late morning trading the stock was gaining up 1.2% at 296.1 Swiss francs.
Although Berenberg has downgraded its rating on the Swiss insurance group to "hold" from "buy" this Friday, it has actually raised its target price for the share, which is currently 315 Swiss francs, from 288 Swiss francs previously, with the broker issuing an upbeat tone on the shares.
"It is common to hear of stocks that investors would want to "own" and those that they wish to "rent", the German broker wrote in a research note.
"We think that Allianz, Zurich and Sampo are stocks that investors would want to "own" for the long term," it added.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In late morning trading the stock was gaining up 1.2% at 296.1 Swiss francs.
Although Berenberg has downgraded its rating on the Swiss insurance group to "hold" from "buy" this Friday, it has actually raised its target price for the share, which is currently 315 Swiss francs, from 288 Swiss francs previously, with the broker issuing an upbeat tone on the shares.
"It is common to hear of stocks that investors would want to "own" and those that they wish to "rent", the German broker wrote in a research note.
"We think that Allianz, Zurich and Sampo are stocks that investors would want to "own" for the long term," it added.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.