Munich Re: UBS maintains 'sell' rating, but ups target price

(CercleFinance.com) - UBS reiterates its "sell" rating on the Munich Re stock, although has raised its target price from 170 euros to 178 euros, with this new target price still giving the share of the Bavarian reinsurer downside potential of 10%.


While the broker acknowledges that the "Balance sheet strength dominates the debate for now," it says that over time, it expects the market to focus more on the group's results, where UBS is "cautious".


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