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.
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Tags: Morgan Stanley