Coface: share up with Berenberg raising TP
(CercleFinance.com) - Coface is one of the biggest risers on the SBF 120 index on Tuesday morning in Paris, after Berenberg raised its target price for it, believing that the credit insurance specialist is "in a class of its own".
At around 10 am, its shares were up just over 1%, outperforming SBF 120, which was down around 0.4% at the same time.
Berenberg raised its target for the stock from E16.8 to E17.2 this morning, while renewing its buy rating on it.
"We believe Coface is now the best of the three trade credit insurers, which is why it merits a premium valuation", the German bank explained.
According to Berenberg, the company stands out on a range of performance indicators compared with rivals Atradius and Allianz Trade, particularly in terms of its combined ratio.
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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.
At around 10 am, its shares were up just over 1%, outperforming SBF 120, which was down around 0.4% at the same time.
Berenberg raised its target for the stock from E16.8 to E17.2 this morning, while renewing its buy rating on it.
"We believe Coface is now the best of the three trade credit insurers, which is why it merits a premium valuation", the German bank explained.
According to Berenberg, the company stands out on a range of performance indicators compared with rivals Atradius and Allianz Trade, particularly in terms of its combined ratio.
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.