The analyst confirms his Buy recommendation on the stock and leaves unchanged his price target of E35, which represents a potential upside of 14%.

' AXA's 3-year targets, including an average annual growth rate for UEPS of between 5% and 9%, will act as a positive catalyst for the share' says UBS.

Management had indicated in early November 2023 that it was maintaining its good operating performance and had confirmed that it was 'on track' to achieve its target of operating income of over 7.5 billion euros in 2023.

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