(CercleFinance.com) – Coface shares rose on Monday, benefiting from a positive rating from Berenberg in which the financial intermediary praised the structural improvement initiated by the credit insurance specialist.
Around 3:30 p.m., the stock advanced 0.4%, slightly outperforming an SBF 120 index up 0.2%.
After a meeting with the group’s management, the analyst estimates that the effect of the structural improvements implemented since 2016 more than offsets the impact of weak economic activity.
‘We believe that the resilience demonstrated by Coface in terms of results, capital and dividend is not reflected in the current stock price,’ concludes the professional, who maintains his purchase recommendation with a price target of 17.2 euros.