Generali: Oddo BHF still on hold

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Generali shares, with an unchanged target price of E24.
8.

The analyst reports that the group's revenues totaled E50.1bn in Q2 (+18.7% as reported, +20.4% LFL), some 4% above expectations, due to continued very strong growth in life insurance (+26.6% ccs in H1, of which +24.7% in Q2).

Generali posted operating income of E3,723m in H1 24 (+0.1% on a reported basis), marginally below expectations.

"The Group continues to benefit from favorable operating dynamics (rate increases in property-casualty insurance, particularly personal lines, and renewed growth in life insurance) and is well on the way to achieving its financial targets", stresses the broker, who points out that Generali will present its new strategic plan at the end of January.


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