AXA : Adjustment to our forecasts but Buy recommendation reiterated
>Downward revision to our 2019 earnings forecasts - AXA is due to report its 2019 figures before the market opens on 20 February. We are adjusting our earnings forecasts ahead of this release. Our adjusted EPS estimate has been revised down by 5.9% for 2019 and 1.4% for 2020, while our EPS forecast is more or less unchanged for 2021. These adjustments are mainly due to: 1/ a downward revision to AXA XL's earnings for 2019; 2/ the disposal of the outstanding stake in A...AXA is a holding company. Through its subsidiaries, Co. is engaged in insurance and assets management. Co. operates primarily in Europe, North America, the Asia-Pacific Region and, to a lesser extent, in other regions including the Middle East, Africa, and Latin America. Co. has five operating business segments: Life & Savings, Property & Casualty, International Insurance, Asset Management, and Banking. In addition, various holding companies within the AXA Group conduct certain non-operating activities. As of Dec 31 2013, Co. had total assets of Euro757,143,000,000.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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