Berenberg Forecasts Another FY26 Net Income Outlook Upgrade from Talanx; Price Target, Estimates Up

03:25 AM EDT, 08/17/2026 (MT Newswires) -- Berenberg anticipates Talanx (TLX.F) will issue another full-year 2026 net income guidance upgrade after the German financial services company reported "solid" higher-than-consensus first-half results. "Following Talanx's H1 2026 results on 14 August, we raise our forecast net profit for 2026E by 4% to EUR2850m and for 2027E by 3% to EUR3025m. We raise our forecasts for three reasons, all linked to Talanx's results presentation: 1) Talanx raised its FY 2026 guidance from about EUR2.7bn to significantly more than EUR2.7bn; 2) we believe Talanx will raise this guidance from significantly over EUR2.7bn to over EUR2.8bn with its Q3 2026 results on 12 November; and 3) while Talanx is cautious regarding its potential exposure to a large hurricane in Q3 2026, due to July-September being the peak risk period for hurricanes, we are now halfway through Q3 2026 and there has not been a single hurricane landfall in the US so far," according to a Monday note. "We believe that there will also be higher earnings in 2027E, and Talanx highlighted during the results call one potential driver: higher investment income. We raise our price target modestly to EUR163 (from EUR158), which offers over 30% potential upside from the current level," analysts added. Berenberg still has a buy rating on the stock. The research firm also raised its 2026, 2027 and 2028 estimates for adjusted operating EPS by 2.1%, 3% and 2.8%, respectively.