Munich Re: Jefferies relève sa recommandation

(CercleFinance.com) - Jefferies has upgraded its rating on the Munich Re share from "hold" to "buy," while trimming its corresponding target price from 215 euros to 210 euros, highlighting the German reinsurance group's balance sheet strength.


"With the market concerned about balance sheet strength amidst the ongoing crisis, Munich Re stands apart for its >E6bn of untapped debt capacity and still having a Solvency II ratio >200%," the broker said.

"Thus what could once be considered capital inefficiency is now a crucial advantage, with Munich Re the best prepared to absorb volatility, while retaining the option to take advantage of any emerging growth opportunities," it adds.


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