ZURICH (dpa-AFX Broker) - Swiss major bank UBS raised its price target for Munich Re to 321 euros from 290 euros, but left its rating at "neutral". Analyst Will Hardcastle sees the insurance sector becoming slightly more cautious on inflation and recession risks after a year of above-average share price performance in 2022, in an industry report available Thursday. Valuations are now generally fairer, he said. For reinsurers, it's the toughest market environment in decades, he said. The higher Munich target reflects better growth prospects for Munich./tih/la

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

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

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