Cantor Fitzgerald analyst Ryan Tunis upgraded RenaissanceRe (RNR) to Overweight from Neutral with a price target of $340, up from $306, part of a Q1 earnings prefiew. The firm’s review of the company’s year-end reserves suggests it should continue to have “idiosyncratic” book value growth from releases. This should offset cyclical pressures, the analyst tells investors in a research note.
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