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Investing.com - JPMorgan upgraded Assicurazioni Generali (BIT:GASI) SpA (BIT:G) (OTC:ARZGY), a $53.36 billion market cap insurer, from Neutral to Overweight and raised its price target to EUR37.00 from EUR34.00. According to InvestingPro data, the stock trades at a P/E ratio of 12.29 and has shown strong momentum with a 28.39% gain year-to-date.
The investment bank increased its earnings per share estimates for the Italian insurer by 1% to 4.5% over the 2025-2028 period.
JPMorgan believes Generali’s adjusted net profit could exceed earnings estimates by 5% to 7% or more during 2025-2026, noting this metric is the main focus of the company’s Lifetime Partner 2027 strategic plan.
The analyst report highlighted that following a recent pullback, Generali shares are beginning to look inexpensive compared to major composite insurance peers on both price-to-earnings and capital return metrics.
JPMorgan’s upgraded outlook comes as the firm sees stronger profit potential for the Italian insurance giant over the next several years.
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