UBS analyst Michael Ward downgraded Reinsurance Group (RGA) to Neutral from Buy with a price target of $216, down from $250, after assuming coverage of the name. The firm sees a “growth shift-related overhang persisting” on the shares over the near-term. Reinsurance needs $1.5B of annual deployment to reach 8%-10% earnings growth, which is doable, but introduces execution risk, the analyst tells investors in a research note. UBS believes this already reflected in consensus estimates as well.
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Read More on RGA:
- Reinsurance Group downgraded to Neutral from Buy at UBS
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