ZURICH (dpa-AFX Broker) - The major Swiss bank UBS has downgraded Allianz from "Buy" to "Neutral", but raised its target price from 270 to 285 euros. Analyst Will Hardcastle justified the downgrade among other things with the recent strong share price performance of the insurer. The price/earnings ratio is at a high level. Long-term profit growth is lagging behind that of its competitor Axa, he said in a study published on Monday, and the total return does not stand out positively from that of its competitors. Investors are also likely to discuss Allianz's position in terms of solvency./bek/la

Publication of the original study: 08.04.2024 / 05:47 / GMT

First distribution of the original study: 08.04.2024 / 05:47 / GMT

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