ASR Nederland Price Target, Estimates Up as Berenberg Notes 'Very Strong' Capitalization

07:12 AM EDT, 08/20/2026 (MT Newswires) -- Berenberg raised its price target for ASR Nederland (ASRNL.AS) to 85 euros from 81 euros, reflecting its higher operating profit forecasts through 2028, as it noted the company's continued focus on the Netherlands and "very strong" capitalization. "ASR Nederland's (ASR) business model is about deals, and the key comment made by the company during its H1 2026 results call on 19 August is that it will still only execute deals in the Netherlands. We believe this means that potential deal risk remains low, as ASR has extensive experience in deal execution and integration," analysts said in a note released Thursday. "During the H1 2026 call, ASR highlighted two areas of potential M&A: a) smaller non-life acquisitions using the Bovemij deal as a blueprint, and b) deals in funeral expense insurance, including smaller portfolio transfers." With this in mind, the research firm increased its IFRS operating profit projections by 4% for 2026, 2027 and 2028. Net income and adjusted EPS expectations for all three years were also upwardly adjusted. The buy recommendation on the Dutch insurer's stock was left unchanged.