FBD Holdings

Strong cash return

  • Sectors : Insurance
  • Companies : FBD Holdings

Ratings and price correct at time of issue.

  • FBD Holdings

    Closing Price: 1370c

  • RATING 01/09/17

  • PREVIOUS RATING 29/02/16



FBD has re-rated significantly in the past year, largely reflecting its strong capital position and the benefits of higher interest rates. We argue that franchise growth should also be part of the equation and become a valuation driver in the coming years. In our view, FBD’s valuation remains attractive, underpinned by increasing earnings, a strong capital position and the unlocking of surplus capital. We increase our price target to €17.85 and reiterate our ‘Outperform’ rating.

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Mar 13 2023, 08:25 GMT