Allianz: Société Générale still a seller.
(CercleFinance.com) - Société Générale (SG) confirmed its sell rating on the share of the German insurance group Allianz following the group's conference call to present its quarterly results.
However, SG maintains its 12-month target price at 155 euros, which gives the stock downside potential of around 17%.
Whilst Allianz's management seemed to be fairly optimistic that it would reach its 2018 targets at this "conference call," including a 5% rise in EPS and a combined ratio of 94%.
However, management was disappointed regarding the increase in costs at its non-life division, and said that it would do everything it could to offset this trend. “Expense control is one of our main concerns with Allianz,” the broker said.
Copyright (c) 2017 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.
However, SG maintains its 12-month target price at 155 euros, which gives the stock downside potential of around 17%.
Whilst Allianz's management seemed to be fairly optimistic that it would reach its 2018 targets at this "conference call," including a 5% rise in EPS and a combined ratio of 94%.
However, management was disappointed regarding the increase in costs at its non-life division, and said that it would do everything it could to offset this trend. “Expense control is one of our main concerns with Allianz,” the broker said.
Copyright (c) 2017 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.