(CercleFinance.com) – The stock ended the session in the green as Berenberg raised its price target on Scor on Monday, raised from 36 to 37 euros, as part of a note with a resolutely optimistic tone on the sector of reinsurance.
In its study, the German broker explains that it has become clear, based on its discussions with several professionals, that not only are reinsurers’ rates set to increase, but that this dynamic should be accompanied by an increase in margins as a result of increased claims experience, changes in risk perception and rising interest rates.
“This is important as it is margin expansion that will drive the ability to generate strong results that has materialized over the past five years,” says Berenberg.
The intermediary displays a buy recommendation on Scor, just like on Munich Re and Swiss Re.
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