ALIZY - Allianz: Still Undervalued Despite Litigation Risks

• Allianz reported strong quarterly results last week with revenue, operating profit, and earnings per share all growing in the double digits.
• But Allianz is facing litigation risks concerning the Structured Alpha Funds, and Allianz could have to pay billions of dollars in fines.
• The stock is at least fairly valued, and when assuming growth rates in the mid single digits - which is reasonable - we look at a real bargain.

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