07:25 AM EST, 03/04/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our target price for Aegon ( AEG ) of USD6.50, reflecting a revised valuation methodology based on 0.8x comprehensive equity, which also implies a 2024 P/E of 9x, in line with its peers. We set 2025 EPS at EUR0.72. Although the 2023 operating income of EUR1.50 billion (-17% Y/Y) missed concensus estimate by 11%, operating capital generation (OCG) of EUR1.28 billion (+14%) met expectations. We note that the OCG exceeded AGN's 2023 guidance, thanks to a remarkable 35% growth in the Americas. Given AGN's focus on capital remittance, we think OCG remains a more important metric versus IFRS17 income. Its cash capital at holding jumped to EUR2.4 billion (+48%) and the group's solvency ratio stood at 193% (-15%-pts). AGN proposed a DPS of EUR0.30 (+30%) and is committed to completing its EUR1.5 billion share buyback (76% completed as of Feb. 2024) by mid-2024. AGN provided its 2025 guidances, including i) OCG of ~EUR1.1 billion; ii) FCF of ~EUR800 million; iii) leverage at EUR5 billion; and iv) DPS of EUR0.40.