AXA: Barclays adjusts target price
(CercleFinance.com) - Barclays maintains its its "weight in line" recommendation on the AXA stock, while inching up its target price from 23 euros to 23.
5 euros, in a report on the European insurance sector, which it considers offers "yield reliability".
"Insurers continue to trade at a P/E discount vs the market, albeit slightly below the historical average - most pronounced for UK stocks given political uncertainty," the broker says.
"While short-term headwinds - Brexit, lower rates, ex-divi dates coming up - may be obvious, we believe investors will continue to reward steady capital generation and lower earnings volatility," it adds.
Copyright (c) 2019 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.
5 euros, in a report on the European insurance sector, which it considers offers "yield reliability".
"Insurers continue to trade at a P/E discount vs the market, albeit slightly below the historical average - most pronounced for UK stocks given political uncertainty," the broker says.
"While short-term headwinds - Brexit, lower rates, ex-divi dates coming up - may be obvious, we believe investors will continue to reward steady capital generation and lower earnings volatility," it adds.
Copyright (c) 2019 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.