Munich Re Has Likely Passed Its Earnings Peak -- Market Talk

Dow Jones10-21

0806 GMT - Munich Re has passed its peak in terms of earnings expectations, Jefferies says in a research note. "As Munich Re reaches new all-time highs, even after Hurricane Milton, we reassess our expectations and conclude that there is little capacity for consensus expectations to rise," analysts Philip Kett and James Pearse write. Further upside needs to be found in capital returns, they add. They see the group's financial and strategic momentum already reflected in the share price. The broker cuts its rating on the stock to hold from buy. Shares fall 2.3% to 493.7 euros and are up 32% year to date. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

October 21, 2024 04:06 ET (08:06 GMT)

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The broker cuts its rating on the stock to hold from buy. Shares fall 2.3% to 493.7 euros and are up 32% year to date. 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