UBS AG has revised its price target for Hannover Re shares, increasing it to 267 euros while maintaining a "neutral" rating.
The natural catastrophe budgets for the sector were largely depleted in the third quarter, and the impact of Hurricane Milton is expected to be reflected in the fourth quarter results. Improvements in tariff statements are anticipated.
Hannover Re shares rose by 0.7 percent to EUR 257.20 in trading, indicating a potential upside of 3.81 percent relative to the new target price. The trading volume reached 25,084 shares, and the stock has appreciated by 22.7 percent since the beginning of 2024.
The company is scheduled to release its Q3 2024 financial results on November 11, 2024.