Wells Fargo Downgrades Reinsurance Group of America (RGA) to Market Perform; Moderating North American Mortality Market

Wells Fargo downgraded Reinsurance Group of America (NYSE: RGA) from Outperform to Market Perform. Valuation range lowered from $68-71 to $60-64.

Wells analyst says, "Our rating change is due to our belief that RGA shares are fairly valued given the volatility in earnings we expect the company will experience as it diversifies its business model. We are also lowering our Q1 2011 EPS estimate to $1.50 from $1.62 to reflect our view of unfavorable mortality, and lowering our 2012E to $7.97 from $8.23."

For more ratings news on Reinsurance Group of America click here and for the rating history of Reinsurance Group of America click here.

Shares of Reinsurance Group of America closed at $61.89 yesterday.

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