AXA: Very decent, consistent, “stick to fundamentals” Q1 2013 numbers

BUY, Fair Value EUR18 (+22%)

News published on May Tuesday 7, 2013
Share on

Q1 2013 numbers are very decent. We continue to appreciate the pricing-driven growth in P&C, the improvement in product-mix in Life (focus on Protection/Health and Unit-Linked products), and an improving momentum in Asset Management. These numbers confirm our positive investment case on the stock and are consistent with AXA’s “Ambition 2015” plan. Buy rating maintained, FV EUR18.

Full report available to subscribers
Please contact 

The Essentials

Everything you need to know about investment banking dedicated to growth
Recent Transactions Highlights
From M&A, to IPOs see what’s been happening at Bryan, Garnier & Co this year
Join our Team
Bryan, Garnier & Co is always looking for talent in all our divisions, at all levels
Explore our opportunities