Raymond James analyst C. Gregory Peters downgraded Everest Group (EG) to Outperform from Strong Buy with a price target of $375, down from $410. The firm has a more cautious outlook for the company’s growth as it pivots to capital management activities, including share repurchases. The market conditions for Everest’s large account business and facultative reinsurance are “continuing to deteriorate,” the analyst tells investors in a research note.
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