UBS AG has reiterated its "Buy" rating for Munich Reinsurance Company, with a target price of 565 euros, following the release of third-quarter figures.

Analyst Will Hardcastle believes that the company's profit, which was lower than expected, may result in a cautious market reaction. However, he does not anticipate any significant adjustments to the reinsurer's estimates.

On the day of the analysis, Munich Re shares declined by 2.9 percent to EUR 476.10, indicating a potential increase of 18.67 percent compared to the target price. The trading volume for the day was 251,184 shares, and the stock has appreciated by 31.6 percent throughout 2024.

Munich Re is scheduled to announce its Q3 2024 financial results on November 7, 2024.