Zurich has been downgraded by UBS from "Neutral" to "Sell," with a revised price target of 515 Swiss francs, down from 532.
The reason for the downgrade is that the current valuation of Zurich is higher than its historical performance and the broader European insurance sector.
UBS analyst Will Hardcastle believes that there are significant correction risks as the estimates already include ambitious targets, leaving little room for further distributions.
UBS has a cautious outlook on Zurich's financial prospects due to the challenging market environment.