Correction: Metzler: Allianz to Raise FY26 Operating Profit Outlook to Upper Half of Target Range at Upcoming Q3 Results

06:34 AM EST, 11/06/2026 (MT Newswires) -- (Corrects reference to target range in the headline and lead) Metzler Capital Markets expects Allianz (ALV.F) to lift its full-year 2026 operating profit guidance to the upper half of its target range at its upcoming third-quarter earnings report on Nov. 12. The German insurer currently forecasts an operating profit of 17.4 billion euros, plus or minus 1 billion euros. The research firm said Friday that Allianz is "well on track" to hit its full-year target. Zooming in on the third quarter, analysts project a 3% year-on-year decline in the company's operating profit to 4.31 billion euros. Looking ahead, Metzler raised its EPS assumptions for 2027 and 2028 by 3% and 4%, respectively, and lifted its insurance revenue estimates for 2026 through 2028. Accordingly, Metzler raised the buy-rated stock's price target to 490 euros from 454 euros. "We believe that Allianz has profound underwriting expertise, strong IT skills and the ability to transfer a renowned brand name into the digital age. In the non-life insurance segment, we expect Allianz to surpass its target of improving the cost ratio by 30 bps annually in the medium term, partly due to efficiency gains on AI. In the current insurance pricing environment, we consider its greater focus on retail non-life insurance (c60% of segmental business volume) rather than commercial non-life insurance (c40%) to be an advantage," the note said.