Allianz downgraded to Neutral from Buy at Citi

Citi analyst James Shuck downgraded Allianz to Neutral from Buy with a 283 GBp price target. The analyst believes this is an attractive period to invest in Generali and Axa over Allianz and Zurich. “Simply put, these two have greater capital optionality on a 3-year view that we expect to be at least partly realized,” the analyst tells investors in a research note.