AXA: Oddo BHF still a buyer ahead of trading update
(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on AXA shares, maintaining its target price for them at E37, ahead of the insurance company's trading update for the first 9m of 2023, which is scheduled for 2 November after trading.
The broker says that AXA's balance sheet remains very solid, with the group continuing to benefit from favourable operating momentum, with a controlled risk profile and a marked improvement in AXA XL's structural profitability.
Analysts add that the current share price does not reflect its favourable profitability outlook, nor the expected attractive level of return of capital to shareholders (total payout ratio, dividend and share buybackd of 70%).
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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 AXA's balance sheet remains very solid, with the group continuing to benefit from favourable operating momentum, with a controlled risk profile and a marked improvement in AXA XL's structural profitability.
Analysts add that the current share price does not reflect its favourable profitability outlook, nor the expected attractive level of return of capital to shareholders (total payout ratio, dividend and share buybackd of 70%).
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.