Allianz: Berenberg confirms buy recommendation and price target (100 characters)

Allianz: Berenberg confirms buy recommendation and price target (100 characters)

The private bank Berenberg has confirmed its rating for Allianz SE as “Buy” with a price target of 309 euros. Analyst Michael Huttner emphasized in a recent study that positive earnings revisions, additional share buybacks and the announcement of a new three-year plan in December have the potential to further boost the insurer's shares. Although the exact timing of these potential price drivers is difficult to predict, overall it is expected that there will be enough positive news to move market expectations for operating income in the direction of its estimate.

The original study was published on April 16, 2024 at 16:17 GMT. Berenberg therefore continues to see attractive potential in Allianz SE and recommends investors to keep an eye on the stock with a “Buy” rating. The positive developments, such as earnings revisions and share buybacks, as well as the company's new three-year plan, could help the share price rise further in the future.

It is noted that investors should keep an eye on market expectations for operating profit, as these could move towards analyst estimates, according to Berenberg. Allianz SE therefore remains an interesting stock in the insurance sector that could benefit from positive developments and announcements. With a price target of 309 euros, Berenberg believes the share still offers potential for positive price development.