Scor: leads the SBF 120, as analyst raises TP

(CercleFinance.com) - On Friday, Scor shares were the biggest risers on the SBF 120 index of the Paris Bourse, thanks to a note from Berenberg in which it raised its price target.


Berenberg - which maintained its buy recommendation on the stock - said it had raised its TP from E24 to E26.9, seeing the stock as an "attractive investment" at its current price levels.

The analyst praised the strength of the reinsurance group's balance sheet, following this week's successful $500m "RT1" bond issue.

In view of its robust positioning in Central and Eastern Europe, Berenberg also believes that Scor is well on the way to achieving its objective of increasing gross written premiums by at least 10% by 2025.

Finally, Berenberg is reassured by the fact that both Milliman (L&H Re) and Willis Towers Watson (P&C Re) have rated the company's reserves as 'adequate'.

At 3:40 pm, the share price was up 2.4%, while the SBF 120 index was down 0.8%.


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