Everest Group upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst Michael Zaremski upgraded Everest Group (EG) to Outperform from Market Perform with a price target of $453, up from $372. In order to create a “clearing event for investors to feel comfortable owning a stock,” the company will need to take a Q4 reserve charge of $812M, the analyst tells investors in a research note. The firm says that if new leadership “takes bold steps” and resets expectations lower, the stock could work in 2025.