Morgan Stanley upgraded Hannover Re (HVRRY) to Overweight from Equal Weight with a price target of EUR 292, up from EUR 254, as part of a broader research note on Reinsurance names in Europe. In softer pricing environments, Hannover Re has outperformed the peer group with shares trading up about 8% on average, while peers have traded down, the analyst tells investors in a research note. Hannover Re is a clear compounder stock that is growing faster than the group while maintaining stable ROE’s and growing capital return, the firm added.
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Read More on HVRRY:
- Hannover Re price target raised to EUR 294 from EUR 255 at Deutsche Bank
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