BofA raised the firm’s price target on RenaissanceRe (RNR) to $437 from $402 and keeps a Buy rating on the shares. Following Q4 earnings, along with several industry events, the firm is making several changes to its model, the analyst noted. The net impact to its 2025 EPS estimate is a 4.8% decline, largely as a result of the California wildfire impacts, while the firm’s 2026 EPS falls a dime and 2027 EPS increases 3% primarily from higher share repurchases, says the analyst, who cites a higher peer group multiple for the firm’s raised price target on the shares.
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Read More on RNR:
- Buy Recommendation for RenaissanceRe Holdings Amid Strong Capital Position and Strategic Share Repurchases
- RenaissanceRe launches new property catastrophe bond fund
- RenaissanceRe files to sell 1.32M common shares for holders
- RenaissanceRe raises quarterly dividend to 40c per share from 39c
- RenaissanceRe board approves renewal of buyback program
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