Everest Re initiated with a Market Perform at BMO Capital

BMO Capital analyst Michael Zaremski initiated coverage of Everest Re with a Market Perform rating and $380 price target. While he continues to forecast an upward biased risk/reward profile given Everest Re’s more recent vintage insurance growth, he still estimates the company’s reserving philosophy "does not create a major cushion as do some peers," Zaremski tells investors.