S&P 500 slips on report Fed’s Waller leading race to replace Powell; tech shines
Investing.com - Goldman Sachs downgraded ASR Nederland NV (AS:ASRNL) (OTC:ASRRF) from Buy to Neutral while raising its price target to EUR58.50 from EUR55.50.
The investment bank cited the stock’s strong performance as a key factor in the downgrade, noting that ASR shares have risen approximately 27% over the past 12 months, outperforming the Stoxx 600 by about 20%.
Goldman Sachs pointed out that ASR’s total capital return yield of approximately 8.5% now sits at the lower end compared to European Life insurance peers, and the company faces "a lack of catalysts in the near term."
The bank’s 2025 operating capital creation estimate of EUR1,271 million slightly exceeds ASR’s own guidance of EUR1,250 million, but falls approximately 2% below Visible Alpha Consensus Data for 2025.
While Goldman Sachs forecasts ASR’s Solvency II ratio to reach 232% by 2027, above consensus expectations, it noted that "the path to deployment looks less clear than peers given Aegon (NYSE:AEG)’s 29.99% ownership stake."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.