Ageas downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Ageas (AGESY) to Neutral from Overweight with a price target of EUR 63, down from EUR 72. The firm adjusted ratings in the European insurance space as part of its 2026 outlook. It is less positive on the sector in 2026 after two years of outperformance. With relative valuations “now stretched and earnings momentum stalling, the sector’s total return outlook looks more limited than in prior years,” the analyst tells investors in a research note. JPMorgan says investors should focus on restructuring catalysts, strong capital returns, and stocks that can beat consensus growth or margin expectations.