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Munich Re: Jefferies says buy - raises target price

( - On Monday analysts at Jefferies confirmed their "Buy" recommendation on the Munich Re share, while raising their target price for it.

The broker has raised its target price from 230 euros to 235 euros.

"Though consensus was disappointed that Munich Re's solvency was both lower and did not include a provision for future claims, we are more sanguine, as the ratio was in line with our forecasts... We also look to premiums, where growth continues to surprise us, prompting us to lift our forecasts".

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