Reinsurance Group just upgraded at Jefferies, here’s why

Jefferies upgraded Reinsurance Group to Buy from Hold with a price target of $189, up from $171. The analyst is constructive on U.S. life insurance for 2024. Companies and investors “appear to have been playing defense of late, and we see the potential for a pivot to offense,” the analyst tells investors in a research note. The firm sees earnings and stock valuation upside from higher rates, stable credit and highlights management commentary on the favorable environment for growth.