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Generali: shares boosted by broker upgrade.

(CercleFinance.com) - Generali shares are up 1.
2%, after Jefferies upgraded the Italian insurer from "hold" to "buy," citing the group's operational resilience.

"Following decades of political intrigue we believe Generali is finally free to forge its own strategic destiny," the US broker wrote in a note.

Cash earnings are accelerating, and together with the capital being released from non-core, Generali will soon be ready to redeploy capital, Jefferies said.

The analysts, who have raised their target price for the Generali stock from 16.8 euros to 17.70 euros, calculated the annual potential uplift from such capital actions at around 3%-4%.

Generali shares are currently trading up 1.2% at over 15.6 euros on the FTSE MIB index this Monday.

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