Yahoo Finance

Jefferies downgraded Allianz (ALIZY) to Hold from Buy with a price target of 325 GBp, up from 310 GBp. Allianz’s plan is “ambitious,” an acceleration from the last plan, and “exactly what consensus had been looking for,” says the analyst, who was also “surprised by another change to the capital return policy.” The firm lifts its forecasts, but with consensus and the share price now appreciating the plan, it downgrades its recommendation.

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Read More on ALIZY:

• Allianz price target raised to EUR 310 from EUR 275 at Deutsche Bank

• Allianz price target raised to EUR 286 from EUR 283 at Citi

• ALIZY Earnings Report this Week: Is It a Buy, Ahead of Earnings?

• Allianz price target raised to EUR 376 from EUR 309 at Berenberg