AXA: share rebounds, Berenberg sees potential

(CercleFinance.com) - AXA shares have bounced back in Paris on Wednesday morning, benefiting from Berenberg's comments, which has upgraded its rating on the share from "hold" to "buy," believing that its valuation has become "interesting" once again.


Shortly before 10 am, the share was up 3.3%, one of the biggest winners in the CAC 40 index, which was up 1.5% in comparison.

In its comments, Berenberg says that it see upside potential of around 60% in the share relative to its target price of 29.7 euros.

In particular, the broker explains that it appreciates the group's transformation into a "non-life" insurance specialist, a turn that it considers as "attractive" and "on track".



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