AXA: Berenberg raises its price target

(CercleFinance.com) - Berenberg announced on Tuesday that it had raised its price target for AXA from €41.
5 to €46, while renewing its buy recommendation on the stock.

In a research note, the analyst describes AXA as a "quality player" whose stock market discount is unjustified.

Berenberg indicates that it has slightly raised its earnings forecasts for the insurer to reflect the positive effect of the dollar's rise on the group's accounts.

The intermediary also mentions the stock's "undervaluation" compared with other specialists in the insurance sector.

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