UPDATE: Morgan Stanley Upgrades Everest Re Group
Morgan Stanley upgrades Everest Re Group (NYSE: RE) to Overweight on business mix, excess capital and market valuation.
Morgan Stanley notes, "Broadening YoY improvement in pricing power proves soft market has ended and should trend higher in 2012+; however, a hard market remains elusive."
RE closed at $89.17 a share yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.