AXA: Oddo BHF still a buyer after earnings call
(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on AXA shares, along with its target price of E34, with analysts hailing a balance sheet that remains very strong, with favourable prospects for profitability and return of capital to shareholders, which are poorly valued at the share's current price.
While the insurer reported revenues that are slightly below expectations for Q1 2023, the broker highlights a strong increase in its solvency margin over the period, as well as an underlying earnings guidance for 2023 that is in line.
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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.
While the insurer reported revenues that are slightly below expectations for Q1 2023, the broker highlights a strong increase in its solvency margin over the period, as well as an underlying earnings guidance for 2023 that is in line.
Copyright (c) 2023 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.