Citi initiated coverage of Everest Group (EG) with a Neutral rating and $362 price target The firm rolled out coverage in North America insurance, expecting pricing and reinvestment tailwinds to ease but for earnings to remain resilient. Citi sees more opportunities for upside in the shares of underwriters relative to brokers. Its top ideas include Arch Capital (ACGL), Aspen Insurance (AHL), Brown & Brown (BRO), Chubb (CB), Ryan Specialty (RYAN) and RenaissanceRe (RNR).
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Read More on EG:
- Cantor rolls out P&C insurance coverage, sees ‘market in transition’
- Everest Group initiated with a Neutral at Cantor Fitzgerald
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