Swiss Re down after Jefferies downgrade on reinsurance price declines

By Reuters News

** Shares in Swiss Re SRENH.S are seen down some 2% in pre-market trade after Jefferies cut the reinsurer to "underperform" from "hold", citing faster reinsurance price declines and revenue risks

** Broker lowers its PT to 110 Swiss Francs ($132.20) from 130 Swiss Francs

** It does not expect the reinsurance prices to find a floor until 2030 without a major global catastrophe

** Cuts Swiss Re's FY 2027 revenue forecast by 12%, saying it is 7% below consensus in 2027 and 19% below by 2030 on P&C reinsurance revenue

** Out of 21 analysts that cover Swiss Re , 3 rate the stock "strong buy" or "buy", ​7 rate "hold" and 11​ rate the stock "sell" - LSEG data

($1 = 0.8321 Swiss francs)

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