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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.