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Munich Re upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Munich Re (MURGY) to Overweight from Neutral with a price target of EUR 650, up from EUR 530. Positive earnings surprises and rapid margin improvement are “likely in the rearview mirror” for Munich Re, but the firm does not see “the Munich Re story being over” as it believes that capital returns are likely to surprise positively, the analyst tells investors.

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