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TLX - Talanx AG News Story

€47.24 -0.5  -1.1%

Last Trade - 4:35pm

Sector
Financials
Size
Large Cap
Market Cap £10.11bn
Enterprise Value £16.38bn
Revenue £30.15bn
Position in Universe 103rd / 1050

BUZZ-Baloise: JP Morgan downgrades on "less compelling" valuation

Wed 8th May, 2019 7:43am
** JP Morgan downgrades Swiss insurer Baloise  BALN.S  to
"neutral" from "overweight" (PT at CHF 190) on "less compelling
relative valuation"
    ** Broker sees more attractive upside in midcap peers Mapfre
 MAP.MC  and Talanx  TLXGn.DE  trading at lower FY 2020
price-to-earnings ratios 
    ** JP Morgan sees no immediate catalysts ahead and believes
the acquisition of Belgian insurer Fidea  urn:newsml:reuters.com:*:nL5N21X0HB will not
strain its balance sheet 
    ** The brokerage notes the company's FY 2019 dividend yield
(3.9 pct) is below sector average (5.4 pct) and that of peers
Mapfre (6.0 pct) and Talanx (4.3 pct) 
    ** "However, Baloise does offer a buyback on top of its
dividend," JP Morgan adds 

 ((bruno.dubrulle@thomsonreuters.com))
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