Trade fair look: Berenberg puts Ageas on buy list

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Ageas (11 aug)

EUR 37,380
0,000
(0,00%)

(ABM FN) Berenberg has increased the advice for Ageas from Hold to Buy and also revised the target price upwards, from EUR 45.90 to EUR 46.90. This emerged from an analyst report from the investment bank on Wednesday.

Analyst Michael Huttner sees three reasons for buying advice.

Firstly, Ageas will again pay out an “attractive” dividend and the strategy of annual share buybacks will be maintained.

Second, Ageas is growing strongly in Asia, where the Chinese business grew strongly between June 2019 and June 2020.

Third, the margins of the core activities in Belgium are still increasing thanks to the good performance of the non-life business.

Furthermore, the analyst believes that Ageas’s valuation is attractive.

The Ageas share closed 1.7 percent higher on Tuesday at 37.38 euros.

ABMFNABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.
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