Blurbs

Morgan Stanley Believes Everest Re (RE) Still Has Room to Grow

Morgan Stanley analyst Michael Phillips CFA maintained a Buy rating on Everest Re (REResearch Report) yesterday and set a price target of $340.00. The company’s shares closed last Tuesday at $300.63, close to its 52-week high of $301.19.

According to TipRanks.com, CFA is a 4-star analyst with an average return of 11.5% and a 75.0% success rate. CFA covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Arthur J Gallagher & Co, and Renaissancere Holdings.

Everest Re has an analyst consensus of Strong Buy, with a price target consensus of $332.00, which is a 12.7% upside from current levels. In a report issued on February 14, Wolfe Research also maintained a Buy rating on the stock with a $351.00 price target.

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The company has a one-year high of $301.19 and a one-year low of $234.87. Currently, Everest Re has an average volume of 231.2K.

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Everest Re Group Ltd is an insurance and reinsurance company with a distribution network. The company’s segments include: the U.S. Reinsurance segment that writes property and casualty reinsurance for large U.S. insurance companies and special lines of business comprising of Marine, Aviation, Surety, and Accident and Health business; the International segment, which focuses on several international reinsurance markets including Canada, Asia, Latin America, Brazil, Africa and the Middle East; the Bermuda segment that writes property and casualty reinsurance through Bermuda Re, the U.K. branch and Ireland Re; and the Insurance segment that writes insurance including property casualty insurance. The U.S. Reinsurance segment generates the majority of the revenue for the company.

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