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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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
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.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.