Zurich Insurance: Commerzbank maintains 'reduce' rating.
(CercleFinance.com) - Commerzbank maintains its "reduce" rating on Zurich Insurance, although has increased its target price from 275 Swiss francs to 285 Swiss francs, saying that the stock looks "rather expensive.
"
The German broker has cut its 2017 EPS estimate by 6%, after incorporating a 150 million dollars loss from hurricane Harvey into its estimates.
This implies a 3% share of the estimated 5 billion dollar loss expected to be borne by private-sector direct insurers, the broker said.
For 2018-2020, Commerzbank has cut its earnigs estimates marginally as it remains cautious on pricing in property and casualty (P&C) insurance, especially in North American commercial insurance.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"
The German broker has cut its 2017 EPS estimate by 6%, after incorporating a 150 million dollars loss from hurricane Harvey into its estimates.
This implies a 3% share of the estimated 5 billion dollar loss expected to be borne by private-sector direct insurers, the broker said.
For 2018-2020, Commerzbank has cut its earnigs estimates marginally as it remains cautious on pricing in property and casualty (P&C) insurance, especially in North American commercial insurance.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.