Allianz: shares head north after positive outlook.
(CercleFinance.com) - Shares in Allianz gained on Thursday after the German insurer said full-year operating profit was expected to be near the upper end of its outlook.
Based on preliminary figures, Allianz achieved a 23 percent increase in operating profit in the second quarter to 2.9 billion euros, the company said in a statement.
After this performance, the group now expects to arrive near the upper end of its 2017 operating profit target range of 10.8 billion euros, plus or minus 500 million euros.
Analysts at Bryan Garnier -- who have a "buy" rating on the shares with a "fair value" of 195 euros -- welcomed a "very strong second-quarter performance."
Shares of Allianz are currently up 1.5 percent at 182.3 euros in Frankfurt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Based on preliminary figures, Allianz achieved a 23 percent increase in operating profit in the second quarter to 2.9 billion euros, the company said in a statement.
After this performance, the group now expects to arrive near the upper end of its 2017 operating profit target range of 10.8 billion euros, plus or minus 500 million euros.
Analysts at Bryan Garnier -- who have a "buy" rating on the shares with a "fair value" of 195 euros -- welcomed a "very strong second-quarter performance."
Shares of Allianz are currently up 1.5 percent at 182.3 euros in Frankfurt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.