Allianz: Berenberg starts with 'buy' rating
(CercleFinance.com) - Berenberg on Thursday started to cover the Allianz share with a "buy" rating.
The German broker also began coverage of other European large-cap insurance companies, such as France's AXA and Italy's Generali, this time with "hold" ratings.
In an research note, Berenberg said it believes that European insurers are "all still undervalued," despite seeing their earnings quality rising.
With this in mind, Allianz offers the most attractive risk/reward, according to Berenberg, followed by Sampo and Zurich.
The broker has a target price of 282 euros for the Allianz share.
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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 German broker also began coverage of other European large-cap insurance companies, such as France's AXA and Italy's Generali, this time with "hold" ratings.
In an research note, Berenberg said it believes that European insurers are "all still undervalued," despite seeing their earnings quality rising.
With this in mind, Allianz offers the most attractive risk/reward, according to Berenberg, followed by Sampo and Zurich.
The broker has a target price of 282 euros for the Allianz share.
Copyright (c) 2020 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.