AXA: Barclays remains Overweight

(CercleFinance.com) - Barclays maintains its 'overweight' recommendation on AXA shares, as well as its target price of E39, notably judging that ample cash and solvency flexibility bode well for shareholder returns.


AXA delivered the cleanest publication among European composite insurers in H1 2024, with results well ahead of expectations and strong underlying trends, the broker says.

Barclays also highlights the disposal of AXA IM, which will bring in around E1bn in additional cash to the group, placing its cash position well above historical levels, it says.


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