Swiss RE: UBS still a seller after Q3 results

(CercleFinance.com) - The day after the the Swiss reinsurance giant published its Q3 results, UBS confirmed its "sell" rating on Swiss Re with a target price of 78 Swiss francs, which suggests downside potential of 14%.


The broker said that although these results overall beat expectations, it expects that pressure on prices will persist in the group's non-life business, and therefore remains cautious, perceiving lower fundamentals in 2019 as well as a tight share valuation.


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