Scor: UBS reiterates buy rating
(CercleFinance.com) - UBS reiterates its buy rating on the Scor stock, with a target price of E36.
40.
The analyst believes that the use of call options promotes corporate governance.
"Scor utilises 57% of call option in corporate governance enhancing transaction," the analyst says.
Yesterday, Scor announced the acquisition of nine million of its own shares, i.e. 5.01% of its capital, through the partial exercise of the call option granted by Covéa, and their subsequent sale to BNP Paribas Cardif, OTC.
Covéa has granted the reinsurer a firm and irrevocable call option on its entire stake in Scor - i.e. 8.8% of the capital - at a price of E28 per share.
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.
40.
The analyst believes that the use of call options promotes corporate governance.
"Scor utilises 57% of call option in corporate governance enhancing transaction," the analyst says.
Yesterday, Scor announced the acquisition of nine million of its own shares, i.e. 5.01% of its capital, through the partial exercise of the call option granted by Covéa, and their subsequent sale to BNP Paribas Cardif, OTC.
Covéa has granted the reinsurer a firm and irrevocable call option on its entire stake in Scor - i.e. 8.8% of the capital - at a price of E28 per share.
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.