Ageas: Morgan Stanley adjusts target price.
(CercleFinance.com) - Morgan Stanley has reiterated its overweight recommendation on Ageas and has inched up its target price for the share from 41.
3 euros to 42.5 euros, the day after the Belgian insurance company unveiled its interim results.
In its research report, the broker says "We forecast the liquidity position, increase the buyback assumption and increase FY17 earnings and dividend estimates."
"We expect ~8% sustainable total capital return and note earnings growth above peer average," it continues.
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