AXA: Oddo maintains 'Outperform' rating
(CercleFinance.com) - In a sector report, Oddo BHF reinstates its "outperform" rating on AXA shares, with a target price of 27 euros, which, alongside Allianz, it considers its favourite stock amongst European insurers.
The sector has been hit by very high Covid claims in 2020, the analyst points out, while predicting that they will fall sharply this year, even if reinsurers remain exposed (particularly via life reinsurance).
The crisis has, however, accelerated price increases in commercial P&C insurance and reinsurance, which will result in an improvement in the profitability of these businesses in 2021/2022, the broker adds.
The AXA share is currently up about 0.3%, pretty much in line with the CAC 40.
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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 sector has been hit by very high Covid claims in 2020, the analyst points out, while predicting that they will fall sharply this year, even if reinsurers remain exposed (particularly via life reinsurance).
The crisis has, however, accelerated price increases in commercial P&C insurance and reinsurance, which will result in an improvement in the profitability of these businesses in 2021/2022, the broker adds.
The AXA share is currently up about 0.3%, pretty much in line with the CAC 40.
Copyright (c) 2021 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.