Allianz: Oddo nudges up target price

(CercleFinance.com) - Ahead of the publication of Allianz's annual results on 17 February, Oddo BHF maintains its "outperform" rating on Allianz shares, and - due to the slight increase in its earnings forecasts for 2023/2024 - is raising its target price for them from 250 euros to 255 euros.


The broker says that Allianz still has a solid balance sheet and benefits from sound operational prospects in insurance, with the momentum set to improve in asset management. It hence expects a 2022 operating profit to be in the upper half of the target range.

The broker also considers that the German insurance company's current multiples neither reflect the growth prospects nor the attractive level of return of capital to shareholders.


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