Scor: shares rise after broker upgrade.

(CercleFinance.com) - Shares in French reinsurance group Scor are up 0.
8 percent at 35.7 euros in a Parisian market that is virtually flat, having been lifted by a rating upgrade from Jefferies.

The broker upgraded its recommendation on the stock from "hold" to "buy" and has raised its target price from 30.4 euros to 38.5 euros, amongst other things, citing the prospect of "more than one billion euros in operational cash in 2017."

"Amidst the industry turmoil of the three major hurricane losses, we believe that the value in Scor's highly profitable dominant position US life reinsurance will become increasingly apparent," Jefferies analysts wrote.



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