Allianz: broker comments boost stock
(CercleFinance.com) - Allianz's share price is up, against a lackluster market in Frankfurt on Friday, after two analysts made positive comments, one of whom upgraded his rating on the German insurance giant's share.
As a result, the stock is currently up about 0.3%, a mirror image of the negative DAX index.
Indeed, the broker Berenberg upgraded the stock from "hold" to "buy", maintaining its target price at 254 euros (current price: 195 euros).
In their comments, analysts say that they appreciate the attention paid by the insurer to earnings growth, in both life and non-life businesses.
Meanwhile, Jefferies reiterated its buy rating on the stock, with a lower target price of 230 euros.
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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.
As a result, the stock is currently up about 0.3%, a mirror image of the negative DAX index.
Indeed, the broker Berenberg upgraded the stock from "hold" to "buy", maintaining its target price at 254 euros (current price: 195 euros).
In their comments, analysts say that they appreciate the attention paid by the insurer to earnings growth, in both life and non-life businesses.
Meanwhile, Jefferies reiterated its buy rating on the stock, with a lower target price of 230 euros.
Copyright (c) 2021 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.