BMO Capital Markets Maintains Market Perform Rating on Everest Group (NYSE: EG) with $403.00 Price Target
In a recent update, BMO Capital Markets has reaffirmed its Market Perform rating on Everest Group (NYSE: EG) with a price target of $403.00. The firm highlighted the release of Everest's annual Global Reserving Triangles, which sheds light on the company's reserves. Despite this new information, BMO Capital advises investors to rely on their own detailed statutory reserving analysis for a more comprehensive view.
According to BMO Capital, Everest's recent data lacks the depth found in statutory disclosures. The firm's updated statutory analysis includes a new examination of approximately $1.8 billion in Reinsurance-only casualty/lawsuit reserves, which were not previously factored into their annual review of the company's reserves. BMO Capital emphasizes the importance of their statutory reserving analysis for investors interested in Everest Group, as it offers a more accurate assessment of the company's financial standing in terms of reserves.
In conclusion, investors should take note of BMO Capital's insights and analysis when considering their investment decisions in Everest Group. By understanding the finer details of the company's reserves and financial standing, investors can make more informed choices that align with their financial goals and risk tolerance levels.