ZURICH (dpa-AFX) - Major Swiss bank UBS downgraded Hannover Re to "sell" from "neutral," but raised its price target to 182 euros from 161 euros. Even if the dividend yield is not investors' core thesis for investing in the reinsurer's shares, he considers Hannover Re's historically low excess yield to be a deterrent, analyst Will Hardcastle justified his new investment vote in a study available Thursday. The new price target also reflects his raised earnings (EPS) forecasts for 2023 and 2024./edh/ck

Publication of the original study: 12.01.2023 / 04:31 / GMT First disclosure of the original study: 12.01.2023 / 04:31 / GMT

-----------------------

dpa-AFX Broker - the Trader News from dpa-AFX

-----------------------