UPDATE: Raymond James Upgrades Reinsurance Group of America to Outperform, Names $86 PT Following Investor Day

In a report published Thursday, Raymond James analyst Steven D. Schwartz upgraded the rating on Reinsurance Group of America RGA from Market Perform to Outperform, and named an $86.00 price target. In the report, Raymond James noted, “Following an upbeat 2014 investor day, we are raising our rating on RGA shares to Outperform from Market Perform. Our rating reflects both undervaluation relative to our new $86 price target and the company's positive growth prospects overseas and in non-traditional insurance markets.” Reinsurance Group of America closed on Wednesday at $76.65.