Allianz: shares rise on Berenberg upgrade
(CercleFinance.com) - Shares of Allianz are up on Friday after Berenberg upgraded its rating on the share, saying that the German insurance giant is one of the stocks that investors would want to own for the long term.
The broker hence upgraded its rating from "neutral" to "buy," while also increasing its target price for the stock from 175 euros to 205 euros.
"It is common to hear of stocks that investors would want to "own" and those that they wish to "rent"," analysts wrote in a research note. "We think that Allianz, Zurich and Sampo are stocks that investors would want to "own" for the long term."
Allianz shares are currently up 1% at 175.5 euros in morning trading on the Frankfurt Stock Exchange, outperforming German blue chip DAX index, which is up just 0.1%.
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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 broker hence upgraded its rating from "neutral" to "buy," while also increasing its target price for the stock from 175 euros to 205 euros.
"It is common to hear of stocks that investors would want to "own" and those that they wish to "rent"," analysts wrote in a research note. "We think that Allianz, Zurich and Sampo are stocks that investors would want to "own" for the long term."
Allianz shares are currently up 1% at 175.5 euros in morning trading on the Frankfurt Stock Exchange, outperforming German blue chip DAX index, which is up just 0.1%.
Copyright (c) 2018 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.