Allianz Going Strong – Analyst Blog
Source: http://www.zacks.com/stock/news/20418/Allianz+Going+Strong++-+Analyst+BlogPosted on Thursday, May 21st, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Allianz Aktiengesell (AZ) has over 75 million customers and a presence in more than 70 countries. It is the largest insurer in Germany with a market share of 18% of the property and casualty insurance in that country and is a leader in Europe.
We are maintaining our Buy recommendation on Allianz after the first quarter results. The recent sharp drop in its share price has taken the stock to a very attractive level.
On our forecast, the stock is trading at 5.7x 2009 EPADR. As such, we maintain our BUY rating and our target price is $12.00.
Read the full analyst report on “AZ”
Zacks Investment Research
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