Generali: Oddo maintains buy rating after results
(CercleFinance.com) - Oddo BHF reiterates its "buy" recommendation on Generali share, maintaining its corresponding target price of 16 euros (17% upside potential), after the Italian insurer reported results that reflected a good operating performance over the first nine months of the year.
The broker stresses that the group's business model has withstood the crisis very well (slight increase in operating profit for the first nine months) and points to a solid balance sheet (increase in solvency margin in Q3, significant liquidity at the holding company level).
Oddo BHF also notes that the group is maintaining its target of returning capital to shareholders over the next three years, aiming to return 4.5-5 billion euros in cumulative capital over the duration of its 2019/2021 plan.
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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 stresses that the group's business model has withstood the crisis very well (slight increase in operating profit for the first nine months) and points to a solid balance sheet (increase in solvency margin in Q3, significant liquidity at the holding company level).
Oddo BHF also notes that the group is maintaining its target of returning capital to shareholders over the next three years, aiming to return 4.5-5 billion euros in cumulative capital over the duration of its 2019/2021 plan.
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.