Mapfre : A solid Q2 2023 overall
>Outperform rating reiterated – Target price lowered to € 2.35 (vs € 2.40) - The Q2 2023 results publication was more or less solid in terms of underlying performance with net profit well above forecasts at ~€ 190m (+36% vs the consensus) - the bulk of the difference driven by the non-life activities (result +43% vs the consensus / life activities -9% vs the consensus). We reiterate our Outperform recommendation on the stock, with a target price lowered to € 2.35 (vs ...Mapfre is an insurance company based in Spain. Co. is the parent company of a group engaged in the underwriting and provision of insurance in Spain and abroad. Insurance policies provided include: life, non-life, accident, home-owner, general and health. Through its subsidiaries, Co. is also engaged in the provision of reinsurance, the management of investment funds, pension funds and pension plans, real estate and related services. On the domestic market, Co.'s activities include managing investment funds, pension funds and pension plans, real estate and other service businesses.
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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