Barclays announced on Tuesday that it had resumed its monitoring of Scor shares, with a recommendation of 'weight in line' and a target price of 26.3 euros.

In a note devoted to reinsurance, the analyst says he views the sector's major players 'constructively' following contract renewals at the start of the year, which he believes show solid margin growth, albeit accompanied by a slowdown in premium growth.

We expect earnings forecasts to continue to be revised upwards, on the back of a decline in the combined ratio and robust investment performance", continues the intermediary.

As for Scor, Barclays acknowledges that the stock is currently "cheap", but also believes that it must now "get its act together".

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.