Raymond James analyst C. Gregory Peters downgraded Everest Group (EG) to Outperform from Strong Buy with a price target of $375, down from $410. The firm has a more cautious outlook for the company’s growth as it pivots to capital management activities, including share repurchases. The market conditions for Everest’s large account business and facultative reinsurance are “continuing to deteriorate,” the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EG:
- Wolfe Research launches coverage with positive view on Life Insurance names
- Everest Group initiated with an Underperform at Wolfe Research
- Everest Group Appoints Laura J. Hay to Board
- C3 AI downgraded, Capri upgraded: Wall Street’s top analyst calls
- Everest Group initiated with a Neutral at Citi