Citi analyst Matthew Heimermann initiated coverage of RenaissanceRe with a Buy rating and $288 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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- Cantor rolls out P&C insurance coverage, sees ‘market in transition’
- RenaissanceRe initiated with a Neutral at Cantor Fitzgerald
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