Zurich Insurance: Morgan Stanley starts at 'equal weight'

(CercleFinance.com) - On Friday Morgan Stanley initiated coverage of Swiss financial group Zurich Insurance with an "equal weight" rating and a target price of 325 Swiss francs.


The investment bank says it expects Zurich to meet or exceed its 2019 targets, however it believes that this is already priced in.

Its target price also implies limited upside, Morgan Stanley says.

"Medium term, we see potential for a re-rating if earnings volatility remains low," it adds.

Zurich shares are currently up 0.7% at 313.8 Swiss francs.

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