Hannover Re: ends in the red after UBS analysis


(CercleFinance.com) – The stock ended the day down slightly after UBS’s analysis.

The analysis office downgrades its recommendation on Hannover Re from ‘neutral’ to ‘sell’ with a price target raised from 161 to 182 euros, a new target close to its current price, the broker mentioning an ‘additional volatility of results probably ignored’.

In the summary of his note, he points out that his advisory downgrade, given the outperformance of the title of the German reinsurer, leaves it trading at double its historical premium in terms of P / E ratio (price on EPS) compared to to the sector.

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