Morgan Stanley downgraded Zurich Insurance (ZURVY) to Underweight from Equal Weight with a price target of CHF 510, up from CHF 505. With most pricing and rate cycles having seemingly peaked, earnings expectations for the European insurance sector are now more likely skewed to the downside, the analyst tells investors in a research note. The firm also downgraded its industry view to In-Line from Attractive.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZURVY:
- Zurich Insurance downgraded to Sell from Neutral at UBS
- Zurich Insurance management to meet with Oppenheimer
- Zurich Insurance price target raised to CHF 520 from CHF 445 at Deutsche Bank
- Zurich Insurance price target raised to CHF 470 from CHF 440 at JPMorgan
- Zurich Insurance upgraded to Hold from Sell at DZ Bank