Oddo BHF reiterates its 'outperform' recommendation on Allianz, with a price target raised slightly from 286 to 288 euros, 'to take into account the good second-quarter results, despite major property claims'.

The research house points out that the German insurance company reported better-than-expected operating results on Thursday, 'demonstrating the Group's resilience and diversification', with continued strong revenue growth.

The stock is trading at low multiples in view of its growth and profitability prospects, and the attractive level of return of capital to shareholders", adds the analyst, pointing to the announcement of an additional share buyback.

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