Allianz: Oddo BHF raises target price

(CercleFinance.com) - After Allianz's annual results last Friday, Oddo BHF maintains its 'outperform' rating on Allianz shares, with a target price raised from E276 to E281, to take into account the lower cost of capital.


The broker highlights the German insurer's decision to prioritise the dividend within its capital return policy: it will thus distribute a dividend of E13.8 per share for 2023, well above expectations.

Allianz will continue to benefit from favourable operating momentum, with an attractive return on capital, and we believe the group could potentially increase its share buybacks by end(2024, or in the future, it adds.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.