AXA: one of Oddo BHF's favourite insurers
(CercleFinance.com) - In a sector report, Oddo BHF confirms its "outperform" rating on Axa shares, increasing its target price for them from E34 to E37, therefore making it one of its favourite stocks amongst European insurance big caps.
The broker says that the insurance sector is trading at low multiples, despite favourable operational momentum, particularly in non-life insurance, due to fears that appear to be overestimated.
Analysts remain positive about the sector which offers sound visibility on EPS growth with prospects for an attractive return of capital, Oddo BHF adds, which also mentions Allianz and Swiss Re as other favourite sector big caps.
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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 says that the insurance sector is trading at low multiples, despite favourable operational momentum, particularly in non-life insurance, due to fears that appear to be overestimated.
Analysts remain positive about the sector which offers sound visibility on EPS growth with prospects for an attractive return of capital, Oddo BHF adds, which also mentions Allianz and Swiss Re as other favourite sector big caps.
Copyright (c) 2023 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.