HAMBURG (dpa-AFX) - Private bank Berenberg upgraded Talanx from "hold" to "buy" and raised its price target from 58 to 69 euros. The business model of the core primary insurance division is excellent and has successfully completed the phase of restructuring, strengthening of reserves and reorganization, analyst Michael Huttner justified his buy recommendation in a study presented on Thursday. The new price target reflects additional earnings from the Latin American operations as well as the shift in the valuation horizon from 2024 to 2025, he added./edh/gl

Publication of the original study: 28.09.2023 / 05:30 / GMT First disclosure of the original study: Date not stated in study / Time not stated in study / Time zone not stated in study

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