(CercleFinance.com) – Oddo BHF reaffirms its ‘outperformance’ opinion on Scor with a price target maintained at 36 euros, judging that the sharp drop in the stock on Friday, after the publication of its quarterly results, seems exaggerated.
If the net result for the first quarter came out lower than the consensus, it was slightly higher than the forecast of the research office, the latter emphasizing that the group benefited from an improvement in its underlying property and casualty profitability.
‘It seems too early to deduce from the first quarter alone a structural deterioration in profitability in life reinsurance, knowing that if this were to be the case, the group would then take clear actions to restore profitability,’ he adds. .
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