Jefferies cuts Generali to hold after shares hit all-time high
Jefferies downgraded Generali to "hold" from "buy" citing limited upside after the stock rallied to an all-time high and a sector re-rating; it raised its price target by 33% to €38. LSEG data cited.
Jefferies cut Generali to "hold" from "buy", saying the Italian insurer's shares have rallied to an all-time high and now leave less upside after a sector rerating. " Jefferies said its preferred insurance stock is France's AXA, which it sees as trading at a material discount after the sharp rerating in Generali and German peer Allianz. 11) per share, but said that still does not justify a "Buy" rating on total shareholder return grounds. LSEG Data showed 18 analysts cover Generali, with four rating it "buy", nine "hold" and five "sell".
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