Swiss Re upgraded to Buy from Hold at Berenberg

Berenberg analyst Kathryn Fear upgraded Swiss Re to Buy from Hold with a price target of CHF 115, up from CHF 98. Although concerns about Swiss Re’s U.S. casualty exposure will persist, the exposure is manageable amid the hard market and rising interest rates, the analyst tells investors in a research note. The firm believes “there is plenty to turn more positive on, such as the company’s growing profitability.”