JPMorgan downgraded Munich Re to Neutral from Overweight with an unchanged price target of EUR 520. The company has been the main beneficiary of the hard market, with its 2025 consensus earnings increasing 55% since 2022 and the share price up 115% since mid-2022, the analyst tells investors in a research note. The firm now says the estimates are now reflecting the upside in Munich’s earnings and capital returns.
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Read More on MURGY:
- Munich Re initiated with a Buy at Goldman Sachs
- Munich Re price target raised to EUR 520 from EUR 503 at Barclays
- Munich Re price target raised to EUR 527 from EUR 525 at Morgan Stanley
- Munich Re price target raised to EUR 501 from EUR 487 at RBC Capital
- Munich Re price target raised to EUR 520 from EUR 515 at JPMorgan