(News Bulletin 247) – Credit Suisse maintains its Neutral rating and its price target of 630CHF on the Swiss Life stock ‘given the limited relative upside potential compared to other Swiss SMID Financials’.
‘We are raising our net profit estimate for Swiss Life by +2-5% for 2023-2025, given stronger headwinds from elipsLife and good momentum from Switzerland Life, partially offset by weaker asset growth under management in the Asset’, details the analyst.
“We value Swiss Life on the basis of a COE of 9.6% (vs. 9.5%) and an unchanged terminal growth rate of 1.0%,” continues Credit Suisse.
‘Consequently, our price target remains unchanged despite slightly higher net profits’, concludes the broker.
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