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Allianz Going Strong

May 21, 2009 | Comments: 0
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Allianz Aktiengesell (AZ) has over 75 million customers and a presence in more than 70 countries. It is the largest insurer in Germany with a market share of 18% of the property and casualty insurance in that country and is a leader in Europe.

We are maintaining our Buy recommendation on Allianz after the first quarter results. The recent sharp drop in its share price has taken the stock to a very attractive level.

On our forecast, the stock is trading at 5.7x 2009 EPADR. As such, we maintain our BUY rating and our target price is $12.00.

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Market Summary Feb 09, 2010 22:39 pm ET
DJIA 10058.64  150.25 1.52%
NASD 2150.87  24.82 1.17%
S&P 500 1070.52  13.78 1.30%