2011-04-12 06:58:49
MADRID (MarketWatch) — German reinsurer Munich Re AG on Tuesday was upgraded to overweight from equal weight at Morgan Stanley, which said rising yields and rates are not yet priced into the shares. The investment bank said it prefers Munich Re and Hannover Re AG to Swiss Re AG , whose return on equity and earnings per share targets are achievable only if yields rise and a hard market emerges. Morgan Stanley lifted its price target on Munich Re to €144 from €139. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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