Everest Group price target lowered to $372 from $383 at BMO Capital

BMO Capital analyst Michael Zaremski lowered the firm’s price target on Everest Group (EG) to $372 from $383 and keeps a Market Perform rating on the shares. The firm is embedding an $812M reserves addition/charge to its Q4 estimate driven by its past reserves analysis as well as its estimate of a higher/worse loss trend higher casualty loss trend assumption, the analyst tells investors in a research note.