Munich Re: 2025 earnings target pleasantly surprises
(CercleFinance.com) - Munich Re announced on Friday that it was targeting a net profit of E6bn in 2025, news that was welcomed by the Frankfurt Stock Exchange.
Just before noon, the German reinsurance group's share price was up by more than 5.5%, making it the second-biggest winner on the pan-European STOXX Europe 600 index.
Several analysts point out that the target of a net profit of six billion euros next year exceeds the consensus, which to date was looking for E5.9bn.
By way of comparison, Munich Re expects to exceed its net profit target of E5bn this year, after starting the year with a forecast of E4bn.
For a company known for its cautious approach to targets, this is clearly a positive element, BofA reacted, which in turn renewed its buy rating on the stock.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Just before noon, the German reinsurance group's share price was up by more than 5.5%, making it the second-biggest winner on the pan-European STOXX Europe 600 index.
Several analysts point out that the target of a net profit of six billion euros next year exceeds the consensus, which to date was looking for E5.9bn.
By way of comparison, Munich Re expects to exceed its net profit target of E5bn this year, after starting the year with a forecast of E4bn.
For a company known for its cautious approach to targets, this is clearly a positive element, BofA reacted, which in turn renewed its buy rating on the stock.
Copyright (c) 2024 CercleFinance.com. All rights reserved.