Hannover Re: Berenberg starts coverage with 'hold'
(CercleFinance.com) - Berenberg on Tuesday initiated its coverage of the German reinsurer Hannover Re, with a "hold" rating on the shares.
In a note, Berenberg analysts said they have resumed coverage of the European reinsurance sector, having a "buy" rating on Munich Re, with a "hold" rating on Swiss Re.
"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," they wrote in a note.
Berenberg has a target price of 114 euros for the Hannover Re share.
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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.
In a note, Berenberg analysts said they have resumed coverage of the European reinsurance sector, having a "buy" rating on Munich Re, with a "hold" rating on Swiss Re.
"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," they wrote in a note.
Berenberg has a target price of 114 euros for the Hannover Re share.
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.