Oddo BHF has reiterated its 'neutral' opinion on Generali, with its price target raised from 23.5 to 24.8 euros, 'to take account of developments on the financial markets, and in particular the fall in the cost of risk and the spread on construction'.

With the Italian insurance company due to publish its first-quarter results on May 21, the research consultancy expects a slight rise in operating income to 1.84 billion euros, and a fall in adjusted net income to 968 million.

While Generali 'continues to benefit from favorable operating dynamics', Oddo BHF considers the share's upside potential to be close to the sector average, justifying its 'neutral' opinion, while remaining positive on the insurance sector.

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