06:47 AM EDT, 09/04/2026 (MT Newswires) -- BofA Global Research raised its price objective for Amundi (AMUN.PA) to 110 euros from 97 euros following its record first-half results, highlighting the French asset manager's stronger flow momentum, cost discipline and higher markets. "Retail momentum has strengthened in the last five quarters led by ETF/passive flows through third-party/digital channels, while active funds are positive including equities. Flows are improving despite the ongoing drag from UCG outflows. We think 4% net new money growth can be maintained in 2027-28, supported by structural trends in insurance, retirement (including German/French pensions) and partnerships (Victory, ICG)," the research firm said Thursday. As such, EPS estimates for 2026 through 2028 were increased by between 5% and 7%, with analysts expecting the company to be able to sustain an EPS compound annual growth rate of more than 8%. "We see potential for AMUN to re-rate further if above average flows can be sustained, given strength in passive and active funds. AMUN is our top pick in European traditional asset management," BofA added, reaffirming the stock's buy rating.

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