RenaissanceRe price target raised to $284 from $280 at JPMorgan

JPMorgan raised the firm’s price target on RenaissanceRe (RNR) to $284 from $280 and keeps a Neutral rating on the shares. The analyst remains upbeat on business trends in the property and casualty sector heading into 2025 and feels that ongoing firm pricing and the group’s defensive risk profile position it to outperform. However, optimistic earnings expectations, bullish sentiment, and current valuations “make the upside in stocks less compelling than a year ago,” the analyst tells investors in a research note. By segment, the firm is most bullish on personal lines stocks due to a positive view of margins.