Coface shares rose on Monday, buoyed by a positive note from Berenberg, in which the financial intermediary praised the structural improvements initiated by the credit insurance specialist.

At around 3:30pm, the share price was up 0.4%, slightly outperforming an SBF 120 index up 0.2%.

Following a meeting with the group's management, the analyst believes that the effect of the structural improvements implemented since 2016 is more than offsetting the impact of weak economic activity.

'We believe that the resilience shown by Coface in terms of results, capital and dividend is not reflected in the current share price', concludes the professional, who maintains his Buy recommendation with a price target of 17.2 euros.

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