Swiss Re: Berenberg initiates coverage with 'hold'
(CercleFinance.com) - Berenberg has initiated its coverage of the Swiss Re stock with "hold" rating and target price of 99 Swiss francs, as the German broker resumes coverage of the European reinsurance sector.
"While we expect pricing headwinds are likely to persist in 2018 and beyond, our coverage universe is well equipped to deal with the soft market conditions relative to peers," Berenberg analysts said in a note.
The broker has also started coverage of Munich Re with a "buy" rating, and has started tracking the Hannover Re share with a "hold" rating.
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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.
"While we expect pricing headwinds are likely to persist in 2018 and beyond, our coverage universe is well equipped to deal with the soft market conditions relative to peers," Berenberg analysts said in a note.
The broker has also started coverage of Munich Re with a "buy" rating, and has started tracking the Hannover Re share with a "hold" rating.
Copyright (c) 2018 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.