RenaissanceRe price target raised to $245 from $234 at Wells Fargo

Wells Fargo analyst Elyse Greenspan raised the firm’s price target on RenaissanceRe to $245 from $234 and keeps an Overweight rating on the shares. In a pivotal conference call, RenaissanceRe spoke optimistically about the 1/1 renewal delivering and positioning to show significant growth in 2023, while also delivering much better ROEs, the firm notes. Shares traded up significantly on the company’s market commentary / outlook, Wells adds.