Swiss Re: UBS reiterates its sell recommendation

(CercleFinance.com) - UBS confirms its sell rating on Swiss Re shares, with an unchanged target price of 85 CHF, representing 18% downside potential for the Swiss reinsurer's shares.


Following its CMD, net income forecasts for 2024E are over $3.6bn below UBS' $4bn estimate (under IFRS17), due to higher P&C provisions, the broker says.

"Key will be to determine if this is a one-off or repeatable" UBS adds.


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