Allianz: Commerzbank raises target price.
(CercleFinance.com) - Commerzbank has reiterated its "buy" rating on Allianz and raised its target price on the stock from 210 euros to 230 euros after a strong third-quarter report.
The broker believes that the announcement of a 2 billion euro share buyback, to be executed in the second half of 2018, represents a "fundamental change in Allianz's DNA in its quest to become even more shareholder friendly."
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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.
The broker believes that the announcement of a 2 billion euro share buyback, to be executed in the second half of 2018, represents a "fundamental change in Allianz's DNA in its quest to become even more shareholder friendly."
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.