Ageas: Barclays starts with 'overweight' rating

(CercleFinance.com) - Barclays has initiated coverage on Belgian insurer Ageas with an "overweight" rating and a 59 euro price target, saying the sentiment on the stock is likely to turn.


"Belgium and Asia should support earnings and dividend growth, in our view, allowing for recurring share buybacks and an all-in yield of 8.9% in 2022," the broker said in a research note.

The Brussels-listed stock was up 0.6 percent on the news, cutting its loss since the beginning ot the year to 6.7 percent.

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