Allianz: Jefferies raises target price; maintains 'buy'.
(CercleFinance.com) - Jefferies maintains its "buy" recommendation on the Allianz stock and has raised its target price from 186 euros to 216 euros, citing the German insurer's capital power and strategic strength.
"Operational momentum appears to be gathering pace, with management well on track for their 2018 targets," the US brokerage firm writes in a research report.
In particular, Jefferies highlights the group's abundance of excess capital (over 10 billion euros including leverage) and high levels of annual surplus capital generation (over 3.5 billion euros).
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