Morgan Stanley downgraded Munich Re (MURGY) to Equal Weight from Overweight with a price target of EUR 523, down from EUR 527, as part of a broader research note on Reinsurance names in Europe. The company has deservedly been the best performer in the hard market due to its high quality underwriting, strategic growth and beats on earnings and capital return, but the market has also fully appreciated the quality of Munich Re, offering “limited room” for positive surprises, the analyst tells investors in a research note.
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Read More on MURGY:
- Munich Re price target raised to EUR 535 from EUR 450 at Deutsche Bank
- Munich Re price target raised to EUR 513 from EUR 501 at RBC Capital
- Munich Re Surpasses Expectations Despite Q3 Challenges
- MURGY Earnings this Week: How Will it Perform?
- Munich Re downgraded to Hold from Buy at Berenberg
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
