Axa: Berenberg downgrades buy rating

(CercleFinance.com) - On Wednesday a Berenberg analyst said that he is downgrading his rating on the Axa share, while cutting his corresponding target price for it.


The broker now recommends investors "Hold" the share, now targeting 21.80 euros, vs. 22.60 euros previously.

"AXA is still cheaper in valuation terms and should benefit from better pricing news in September but we believe investors should now buy Generali and hold AXA," says Berenberg, which conversely has switched to a buy rating on the share of its Italian peer, Generali.


Copyright (c) 2020 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.