AXA: stock outperforms as Morgan Stanley raises target price

(CercleFinance.com) - AXA shares are one of the biggest risers in the CAC 40 index on the Paris stock exchange on Monday, thanks to upbeat comments from analysts at Morgan Stanley.


In a report on the European insurance sector, Morgan Stanley highlights the "attractive" valuation of the French insurance group, which it says is trading at a "significant" discount to Allianz and Zurich shares, despite having a relatively similar business profile.

As such, the broker has raised its target price for the share from 27 euros to 30 euros, while maintaining a "equal weight" rating on the stock.

While analysts say that they see upside potential, they however do not see any catalysts that could boost the share price in the immediate future.



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