RenaissanceRe Holdings Ltd. (NYSE:RNR) is one of the most undervalued quality stocks to buy right now. On January 14, Cantor Fitzgerald increased its price target for RenaissanceRe to $282 from $252 with a Neutral rating.
The firm suggested that the initial positive outlook for insurance brokers may have been premature and noted that near-term fundamentals are likely to decline before they improve. Although the firm continues to find the subgroup interesting, it anticipates negative revisions to consensus organic growth in the interim.
A day before the Cantor Fitzgerald rating, Wells Fargo lowered the firm’s price target on RenaissanceRe to $281 from $285, while maintaining an Equal Weight. Ahead of the insurance sector’s quarterly earnings results, the firm suggested that investors prioritize pricing, loss trends, and reserves for P&C companies. Additionally, the firm noted that the focus should be on organic growth and margins for brokers, as well as sales, capital, and guidance for life insurance companies.
RenaissanceRe Holdings Ltd. (NYSE:RNR), together with its subsidiaries, provides reinsurance and insurance products in the US and internationally. It has Property and Casualty & Specialty segments.
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Disclosure: None. This article is originally published at Insider Monkey.
