Reinsurance Group of America (RGA) PT Raised to $225 at Evercore ISI

Evercore ISI analyst Thomas Gallagher raised the price target on Reinsurance Group of America (NYSE: RGA) to $225.00 (from $215.00) while maintaining a Outperform rating.

The analyst comments "Following the strong quarter, we are raising our estimates and price target to reflect stronger revenue growth, very strong underwriting results in what is typically a weaker seasonal quarter, and a modest positive impact on valuation from the new biometric disclosure. For ’24, our 2Q-4Q EPS estimates increase by around 4%, and for 2025, they increase 3%. Our PT increases by 4-5% from $215 to $225 to reflect our 3% estimate increase for ’25 plus an extra $3 of the deferred profits from the last 5 quarters per the biometric data."

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