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 expects a cautious negative market reaction due to weaker-than-expected profit, but does not anticipate significant adjustments to the reinsurer's estimates.
Munich Re shares fell by 2.9 percent to EUR 476.10 in trading, indicating a potential upside of 18.67 percent to the target price. Trading volume reached 251,184 shares. The stock has appreciated by 31.6 percent since the beginning of 2024.
The Q3 2024 key financial figures will be presented on November 7, 2024.