November - Hannover Re underperform

Hannover Re is scheduled to publish results for the third quarter of 2009 on November 6. The analysts of Keefe, Bruyette & Woods assume that the group has achieved net earnings of EUR 150 million, after losses of EUR 395 million in the same quarter of the previous year. They project EBIT of EUR 240 million (previous year: EUR -368 million). With regard to the life segment, the analysts anticipate EBIT of EUR 73 million and EBIT-margins of 8.8%.

New York (aktiencheck.de AG) - William Hawkins, analyst of Keefe, Bruyette & Woods, continues to rate the shares of Hannover Re (ISIN DE0008402215/ WKN 840221) as "underperform".

Hannover Re is scheduled to publish results for the third quarter of 2009 on November 6. The analysts of Keefe, Bruyette & Woods assume that the group has achieved net earnings of EUR 150 million, after losses of EUR 395 million in th

The analysts of Keefe, Bruyette & Woods have raised their EPS-forecast for the current business year from EUR 4.72 to EUR 5.05, implying price-earnings ratios of 6.77. For the years 2010 and 2011, the analysts project a decline in EPS to EUR 4.09 and 4.00, respectively. While the shares of Hannover Re are inexpensive from a fundamental point of view, they trade at a premium relative to the shares in the reinsurance segment. The analysts continue to see a price target of EUR 36.20 for Hannover Re's stock.

The analysts of Keefe, Bruyette & Woods reiterate their "underperform" rating on the shares of Hannover Re. (Analysis of October 20, 2009) (20.10.2009/ac/a/d)

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