(CercleFinance.com) – Oddo BHF reiterates its ‘outperformance’ opinion and its target price of 255 euros on Allianz, the day after the publication by the German insurer of an ‘operating result higher than expectations in the second quarter, with a strong revenue growth.
“Allianz continues to benefit from favorable operating prospects, particularly in non-life insurance, with a solid balance sheet”, notes the analyst, adding that the title “is trading at low multiples”, with a 2024 PE (price to EPS ratio) of only 8.5 times.
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