AXA, FR0000120620

AXA stock draws higher targets as 2026 earnings stay on track

Published on 09/25/2026 at 12:43 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AXA stock carries an EUR 77 Berenberg target dated September 23, 2026. First-half 2026 organic top-line growth was 5%, while Solvency II stood at 218% on June 30.

Aquarell der Pariser Skyline mit Eiffelturm in weichen Pastelltönen über der Seine — AXA Aquarell Pariser Skyline mit Eiffelturm und Seine in weichen Pastellfarben ISIN FR0000120620, Illustration mit AI erstellt.

AXA (ISIN FR0000120620) stock was trading at EUR 44 on Euronext Paris at 12:25 p.m. CEST on September 25, 2026, up 0.07 percent from the previous close of EUR 43.97. The latest strategic update points to continued earnings growth, while analyst targets remain well above the current share price.

AXA raises its growth ambition

On September 15, 2026, AXA set a target of 7% to 9% annual growth in underlying earnings per share from 2026 through 2029. The company also targets underlying return on equity of 15% to 17% for 2027 to 2029, compared with a 2026 target range of 14% to 16%.

The same release kept AXA's 2026 outlook at the top end of its 6% to 8% underlying EPS growth range. The plan also includes a 75% total payout ratio, combining a 60% dividend allocation with 15% for share buybacks.

First-half figures support guidance

AXA's first-half 2026 operating figures provide the numerical basis for that outlook. In its Q2 FY2026 earnings call transcript, Yahoo Finance reported 5% organic top-line growth, 8% underlying EPS growth and an 18% return on equity for the period.

The Solvency II ratio stood at 218% on June 30, 2026, up from 215% on January 1. A counter-factor came from AXA XL Reinsurance, where first-half gross written premiums fell 9% to EUR 1.8 billion and pricing declined 5%, according to Insurance Business on September 15, 2026.

Analyst targets exceed EUR 50

Goldman Sachs maintained a Buy rating and raised its AXA target from EUR 48.50 to EUR 50 in a September 21, 2026 update published by MarketScreener. The EUR 50 target lies 13.64 percent above the EUR 44 reference price.

Investing.com reported on September 23, 2026, that Berenberg reiterated a Buy rating and an EUR 77 price target. The spread between the current price and analyst targets gives the market's earnings execution a central role in the AXA investment case.

Stock remains below yearly high

AXA stock was trading 3.64 percent below its 52-week high of EUR 45.66 and 20.39 percent above its 52-week low of EUR 36.55 on September 25, 2026. Market capitalization stood at EUR 90,448,936,072, with volume at 471,918 shares at the same intraday snapshot.