Citi cuts ASR Nederland on delayed upside from Dutch pension reforms

ASR Nederland NV

25/06/2025 07:32

** Citi downgrades ASR Nederland ASRNL.AS to "neutral" from "buy", saying further upside from pension reforms in the Netherlands will take time to deliver for the Dutch insurer

** "The shares are reasonably valued on free cash flow and dividend yield metrics," Citi says

** It lists economic, litigation, M&A execution and regulatory risks potentially impacting valuation

** The broker raises its PT by 11% to 55.3 euros ($64.24), citing increased free cash flow forecasts and a lower cost of capital

** Out of 14 analysts that cover ASR Nederland NV, nine rate the stock "strong buy" or "buy, "​five rate it "hold" and no analysts rate the stock "strong sell" or "sell" - LSEG data

($1 = 0.8609 euros)

(Reporting by Gianluca Lo Nostro)

((gianluca.lonostro@thomsonreuters.com;))