(CercleFinance.com) – The title is almost stable at the end of the day in a market down almost 1% on the CAC40.
Berenberg renewed its buy recommendation on Coface on Friday, with a price target raised from 12.4 to 15.1 euros, seeing good reasons to speculate on the title of the credit insurer.
In a research note, the German bank highlights three factors that it believes justify being positive on the value.
First, explains Berenberg, Coface operates in a segment of the insurance market that offers comfortable profit margins.
Then, continues the German establishment, the company has a formidable economic model, not only in its core business but also in business information, a business that could according to him be valued around 360 million euros. by 2023, i.e. € 2.4 per share.
Finally, concludes Berenberg, its capital is now owned up to 29.8% by Arch Capital, a diversified insurance group which may well be tempted to launch a takeover offer on the entire capital, predicts the German bank.
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