Zacks Investment Research upgraded shares of Reinsurance Group of America Inc. (RGA) from NEUTRAL to OUTPERFORM on January 09, 2014, with a target price of $92.00.
We are upgrading our recommendation on Reinsurance Group to Outperform from Neutral prior to its fourth-quarter and full-year 2013 earnings release, reflecting the company's strong performance for the first nine of 2013. We also believe that the company will benefit from improving operating conditions in 2014. We expect the company to perform well going forward given its niche position in the U.S. and Canada reinsurance markets. Additionally, the company is growing its international operations to reap the benefits of diversification. Reinsurance Group is also poised to benefit from the changing life reinsurance pricing environment. Moreover, rising interest rate expected in 2014 will also aid earnings. A disciplined capital management strategy and strong investment grade ratings are other positives that make us optimistic about the stock.
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