Generali: stock rises with broker upgrade
(CercleFinance.com) - The share of Italian insurer Generali is up almost 2% in Milan on Tuesday, after BofA upgraded the stock.
This morning BofA Global Research adopted a "buy" rating on the stock, which it believes is being "harshly treated".
"The company has a strong balance sheet and has shown resilience to COVID, with P&C +ves broadly offsetting Life (insurance) in H1".
After its underperformance against the sector, BofA says it sees an attractive entry point on the stock, which is currently trading at only 7.6x 2022e earnings, in addition to having an attractive dividend yield of 7.4%.
The Generali share is up 1.8% in mid-afternoon trading, outperforming the 0.7% rise in the FTSE MIB index.
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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.
This morning BofA Global Research adopted a "buy" rating on the stock, which it believes is being "harshly treated".
"The company has a strong balance sheet and has shown resilience to COVID, with P&C +ves broadly offsetting Life (insurance) in H1".
After its underperformance against the sector, BofA says it sees an attractive entry point on the stock, which is currently trading at only 7.6x 2022e earnings, in addition to having an attractive dividend yield of 7.4%.
The Generali share is up 1.8% in mid-afternoon trading, outperforming the 0.7% rise in the FTSE MIB index.
Copyright (c) 2020 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.