UBS AG has increased its target price for Hannover Re shares to 267 euros, while keeping a "neutral" rating, in anticipation of the company's third-quarter results.

Analyst Will Hardcastle mentioned that the third quarter saw a depletion of natural catastrophe budgets in the sector, and the impact of Hurricane Milton is expected to be reflected in the fourth quarter results. There are expectations of improvements in tariff statements.

Hannover Re's share price rose by 0.7 percent to EUR 257.10 at 11:57 a.m. on XETRA, indicating a potential upside of 3.85 percent compared to the new target price. The trading volume for the day was 25,063 shares, and the stock has experienced a significant increase of 22.7 percent in 2024.

The Q3 2024 results are scheduled to be released on November 11, 2024.