UBS AG has increased its price target for Munich Reinsurance Company shares to 565 euros, while maintaining a "buy" rating.
Analyst Will Hardcastle stated that Munich Re is his preferred choice among European reinsurers and mentioned that the sector has already utilized most of its natural catastrophe budgets for the third quarter. The impact of Hurricane Milton is expected to be reflected in the fourth quarter.
On the day of the analysis, Munich Re shares experienced a slight decline of 0.4 percent, trading at EUR 502.60 on XETRA. This indicates a potential upside of 12.42 percent to the new price target. The trading volume reached 45,703 shares, and the stock has appreciated by 38.9 percent since the beginning of 2024.
Munich Re is scheduled to release its Q3 2024 key financial figures on November 7, 2024.