UBS has maintained a "buy" rating for Munich Reinsurance Company while lowering its price target from 560 to 540 euros, citing a poor third quarter but overall strong positioning. Analyst Will Hardcastle noted a slower increase in leverage and adjusted buyback estimates after insights from the CFO. The shares rose 2.0% to EUR 479.50, indicating a potential upside of 12.62% towards the new target price, with a 32.5% increase since the start of 2024. Quarterly results are set to be released on February 26, 2025.
UBS AG has maintained a "Buy" rating for Munich Reinsurance Company shares while lowering its price target from 560 to 540 euros. Despite a disappointing third quarter, analyst Will Hardcastle noted the reinsurer's solid position and slightly increased estimates for regular buybacks, although hopes for additional buybacks were canceled. As of midday trading, shares rose by 2.0% to EUR 479.50, indicating a potential upside of 12.62% relative to the new target price.
UBS has maintained a "Buy" rating for Munich Reinsurance Company, setting a target price of 560 euros, despite a 1.0% drop in shares to EUR 465.80. The stock has shown a 28.7% increase since the start of 2024, with a potential upside of 20.22% based on UBS's target. Q3 2024 results are due on November 7, 2024.
UBS AG has maintained a "Buy" rating for Munich Reinsurance Company shares, setting a target price of 560 euros. Despite a slight decline in share price to 470.10 euros, the stock has shown a 28.7% increase since the start of 2024, indicating a potential upside of 20.22%. The company is set to release its Q3 2024 financial results on November 7, 2024.
UBS has maintained a "Buy" rating for Munich Reinsurance Company, setting a target price of 565 euros despite a weaker-than-expected profit in Q3. Shares fell 2.9% to EUR 476.10, indicating an 18.67% potential upside. The stock has risen 31.6% since the start of 2024, with Q3 2024 financial results due on November 7, 2024.
UBS AG has maintained a "Buy" rating for Munich Reinsurance Company, setting a target price of 565 euros despite a weaker-than-expected profit in Q3. Shares fell 2.9% to EUR 476.10, indicating an upside potential of 18.67%. The company is set to release its Q3 2024 financial results on November 7, 2024.
UBS AG has raised its price target for Munich Reinsurance Company shares from 525 to 565 euros, maintaining a "buy" rating. Analyst Will Hardcastle highlighted the stock as a top pick among European reinsurers, noting that the sector's natural catastrophe budgets are nearly exhausted for Q3, with improvements expected in rate statements. As of midday trading, shares fell 0.4% to EUR 502.60, still showing a potential rise of 12.42%.
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