Munich Re: UBS raises its price target
(CercleFinance.com) - While maintaining its 'neutral' recommendation on Munich Re, UBS has raised its target price from €555 to €594, a new target that implies a potential increase of 8% for the stock, the day after the German reinsurer's annual results.
Munich Re's solid capital base offers optionality, the intensification of capital distribution seems to be well received, and the reduction in losses due to forest fires reinforces confidence in a net income of six billion euros', the broker judges.
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