ALLIANZ: Only for those that believe in happy endings

JP Morgan Lifts Allianz 07 EPS Estimate

Monday, December 19, 2005 3:48:44 AM ET
Dow Jones Newswires



0731 GMT [Dow Jones] JP Morgan lifts Allianz (AZ) '07 EPS estimate to EUR14.3 from EUR13.9. EPS estimates now include bank's full estimate of German restructuring in insurance, it says. Furthermore, notes Allianz announced 0.158 RAS share exchange ratio, and now estimates the diluted number of shares will rise to 432M from 407M. Company is bank's favorite "cost-cutting story" in European insurance. Has overweight rating and EUR138 target. Shares closed Friday at EUR127.20. (JEL)