Scor: Oddo BHF remains 'neutral' ahead of 3-year plan
(CercleFinance.com) - Prior to Scor's presentation of its new three-year strategic plan on 4 September, Oddo BHF maintains a "neutral" rating on the share, given relatively limited upside potential relative to its target price of 40 euros.
According to the broker, this plan should be able to continue strong organic growth while benefiting from an upbeat momentum on its combined ratio in P&C. Thus, it believes that the reinsurer could potentially raise its ROE target.
At the share's current price, there is limited downside potential, although at best, upside potential remains insufficient to be more aggressive on the share, the analyst says, adding that other shares in the sector offer greater upside potential.
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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.
According to the broker, this plan should be able to continue strong organic growth while benefiting from an upbeat momentum on its combined ratio in P&C. Thus, it believes that the reinsurer could potentially raise its ROE target.
At the share's current price, there is limited downside potential, although at best, upside potential remains insufficient to be more aggressive on the share, the analyst says, adding that other shares in the sector offer greater upside potential.
Copyright (c) 2019 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.