AXA: Oddo BHF raises target price

(CercleFinance.com) - On Friday, an analyst at Oddo BHF announced that he has raised his target price for the Axa share from 28 euros to 30 euros, believing that the group has taken measures to reduce the volatility of Axa XL's OP.


The broker has slightly cut its EPS estimate (-3%) due to the derisking of AXA XL. It is however, raising its target price to integrate a fall in the cost of capital (except for AXA XL, which for which it has left the cost of capital unchanged out of cautio, despite steps that have been taken (...). The operational outlook remains sound and the strengthening of the group's balance suggests good prospects for capital returns to shareholders, the broker says.

Oddo BHF therefore maintains its Buy rating on the share.


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