Zacks Investment Research upgraded shares of Reinsurance Group of America Inc. (RGA) from UNDERPERFORM to NEUTRAL on November 25, 2013, with a target price of $79.00.
We are upgrading our recommendation on Reinsurance Group to Neutral from Underperform following better-than-expected third quarter earnings. The company also performed exceedingly well year-over-year with earnings per share growth of 58.5%. Results were helped by higher revenues, along with lower share count. Reinsurance Group holds a significant position in the U.S. and Canada. 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. However, some of the headwinds faced by the company include low interest rates, significant exposure to foreign exchange and an underperforming Australian business. Nevertheless a disciplined capital management strategy will continue to boost bottom-line earnings.
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