AXA: Jefferies keeps on buying after Q3 results

(CercleFinance.com) - The insurance group has said that the impact of Covid-19-related claims was unchanged at 1.
5 billion euros on 2020 operating profit.

The broker says, "With AXA providing reassuring statements for capital, cash and COVID-19 claims, our conviction has been strengthened by this update".

"Having fallen >25% since June, our view is that this reassurance will prove to be a catalyst that underpins the shares," it adds.

Jefferies confirms its buy rating on the share with a target price of 27 euros (vs. current price of 15.35 euros, +2.9%).


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.