Swiss Re: RBC raises target price

(CercleFinance.com) - On Friday, RBC raised its target price for Swiss Re shares from 114 CHF to 120 CHF, while renewing its sector perform rating on the stock.


The analyst praises the reinsurer's focus on good business execution and improved business resilience.

RBC notes that the Swiss group ended H1 with a 20% return on equity (ROE), which should enable it to rebuild its reserves.

The broker points out that the arrival of new CEO Andreas Berger should also breathe new life into the company, without requiring a major change in strategic direction.

These factors lead RBC to raise its earnings estimates for the group by 5%, resulting in it increasing its target price.


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