1128 GMT - Allianz is now trading at the top end of its valuation range, following a strong share price performance, Goldman Sachs says in a research note. Analysts cut the stock to hold from buy, moving to a more balanced risk-reward view. They expect the German insurer to continue to deliver its planned targets but see limited scope for near-term catalysts. The group has improved its property and casualty margin and delivered better-than-expected net flows in asset management, meaning that the thesis on which its buy rating was based on has played out, they say. Shares are down 1.2% to 347.6 euros but have risen 17.5% year to date. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 20, 2025 07:28 ET (11:28 GMT)
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