Accordingly, - Hannover Re buy

Hannover Re published figures for the third quarter. Accordingly, net earnings of EUR 159 million and the group's combined ratio of 96.3% slightly exceeded expectations. EPS-guidance for the full fiscal year was raised from EUR 5.00 to EUR 5.75. Average market expectations are for EPS of EUR 5.25, while the analysts of UniCredit Markets & Investment Banking project EUR 5.42 (PER: 6.14). The fact that the group has raised its guidance indicates that the positive trend of the late fiscal quarter is likely to continue into the final quarter.

München (aktiencheck.de AG) - Bernd Müller-Gerberding, analyst of UniCredit Markets & Investment Banking, continues to rate the shares of Hannover Re (ISIN DE0008402215/ WKN 840221) as "buy".

München (aktiencheck.de AG) - Bernd Müller-Gerberding, analyst of UniCredit Markets & Investment Banking, continues to rate the shares of Hannover Re (ISIN DE0008402215/ WKN 840221) as "buy".

Hannover Re published figures for the third quarter. Accordingly, net earnings of EUR 159 million and the group's combined ratio of 96.3% slightly exceeded expectations. EPS-guidance for the full fiscal year

was raised from EUR 5.00 to EUR 5.75. Average market expectations are for EPS of EUR 5.25, while the analysts of UniCredit Markets & Investment Banking project EUR 5.42 (PER: 6.14). The fact that the group has raised its guidance indicates that the positive trend of the late fiscal quarter is likely to continue into the final quarter.

Hannover Re published figures for the third quarter. Accordingly, net earnings of EUR 159 million and the group's combined ratio of 96.3% slightly exceeded expectations. EPS-guidance for the full fiscal year was raised from EUR 5.00 to EUR 5.75. Average market expectations are for EPS of EUR 5.25, while the analysts of UniCredit Markets & Investment Banking project EUR 5.42 (PER: 6.14). The fact that the group has raised its guidance indicates that the positive trend of the late fiscal quarter is likely to continue into the final quarter.

Hannover Re's management guided towards a dividend payment of EUR 2.00 per share, which comes as a positive surprise. Thus far, the analysts of UniCredit Markets & Investment Banking had anticipated a dividend payment of merely EUR 1.75 per share. They have now slightly upgraded estimates for the coming year. For instance, their EPS-forecast for 2010 was raised from EUR 4.93 to EUR 5.14 and their price target was upgraded from EUR 35.00 to EUR 37.00.

Hannover Re's management guided towards a dividend payment of EUR 2.00 per share, which comes as a positive surprise. Thus far, the analysts of UniCredit Markets & Investment Banking had anticipated a dividend payment of merely EUR 1.75 per share. They have now slightly upgraded estimates for the coming year. For instance, their EPS-forecast for 2010 was raised from EUR 4.93 to EUR 5.14 and their price target was upgraded from EUR 35.00 to EUR 37.00.

With this background, the analysts of UniCredit Markets & Investment Banking reiterate their "buy" rating on the shares of Hannover Re. (Analysis of November 10, 2009) (10.11.2009/ac/a/d)

With this background, the analysts of UniCredit Markets & Investment Banking reiterate their "buy" rating on the shares of Hannover Re. (Analysis of November 10, 2009) (10.11.2009/ac/a/d)

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