Scor: Berenberg raises target price
(CercleFinance.com) - On Wednesday Berenberg raised its target price for Scor shares from E34 to E35, ahead of the French insurer's Q3 results, which are due out on 10 November.
In a report, the broker - which maintains its buy rating on the stock - says it expects a "solid" publication, which should stand the group in good stead to achieve its annual targets.
Pointing out that the stock has surged by 28.5% this year and by some 100% over the past 12 months, analysts still see upside potential on the basis of the share's current multiples.
They believe that good sequential (quarterly) business performance, as well as achieving the targets set in its 2024-2026 strategic plan, with a possible resumption of dividend growth, represent further upside potential for the stock.
For 2023, the Group's earnings estimates have been raised by 5.4% to E860m
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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.
In a report, the broker - which maintains its buy rating on the stock - says it expects a "solid" publication, which should stand the group in good stead to achieve its annual targets.
Pointing out that the stock has surged by 28.5% this year and by some 100% over the past 12 months, analysts still see upside potential on the basis of the share's current multiples.
They believe that good sequential (quarterly) business performance, as well as achieving the targets set in its 2024-2026 strategic plan, with a possible resumption of dividend growth, represent further upside potential for the stock.
For 2023, the Group's earnings estimates have been raised by 5.4% to E860m
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.