Scor: a mixed publication for UBS
(CercleFinance.com) - UBS maintains its "buy" rating on Scor shares, also sticking to its target price of 29.
2 euros, the day after the French reinsurer's annual results, a publication that the broker describes as "mixed".
While it acknowledges "strong profits", UBS also notes "weak solvency", as well as question marks over the normalised combined ratio. "The valuation implies low expectations," it said, citing a P/E of 6x.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
2 euros, the day after the French reinsurer's annual results, a publication that the broker describes as "mixed".
While it acknowledges "strong profits", UBS also notes "weak solvency", as well as question marks over the normalised combined ratio. "The valuation implies low expectations," it said, citing a P/E of 6x.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.