RBC Capital Starts AXA Coverage at Outperform, Highlights Transformation-Driven Upside
RBC Capital has initiated coverage of AXA SA with an Outperform rating and a EUR 48.00 price target, citing the insurer's multi-year business transformation toward technical insurance and fee-based earnings. The research note points to improved profitability, reduced earnings volatility, and a valuation gap versus European peers that may present up…