UPDATE: Morgan Stanley Downgrades Reinsurance Group of America to Equal-Weight on Limited Upside

Morgan Stanley downgraded Reinsurance Group of America RGA from Overweight to Equal-weight and removed the price target of $62.00. Morgan Stanley noted, "Our Overweight rating reflected our view that RGA offered safe haven–like characteristics and reasonable growth at a relatively low multiple. Yet results have disappointed in the past year. After poor 3Q results, we felt this was overly discounted in the stock price, but now that RGA has rebounded, we see only 10% upside to our fair value of $62 (unchanged)." Reinsurance Group of America closed at $56.55 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesPre-Market OutlookAnalyst RatingsMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!