Generali: one of Oddo BHF's favourite insurers

(CercleFinance.com) - In a report on major European insurers, Oddo BHF said that it prefers Generali as one of its best picks, on which it has a "buy" recommendation and a target price of 17.
4 euros, alongside the French company AXA, and Germany's Munich Re and Talanx.

According to the broker, the share of the Italian insurance company benefits from upbeat operating trends, a "manageable" exposure to different countries, while the group should be able to quickly deleverage its balance sheet during its forthcoming strategic plan (presentation in November).

It believes that the sector should continue to benefit from earnings growth, based on improved technical results, the gradual rise in interest rates and share buyback programs, while its valuation appears low.

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