Barclays Raises PT and Estimates on Everest Re Group (RE) After Positive Meeting with Management

Barclays maintains an 'Equalweight' on Everest Re Group (NYSE: RE) price target raised from $100 to $109.

Analyst, Jay Gelb, said, "We hosted meetings in Chicago with Everest Re's President Dominic Addesso, and new CFO Craig Howie. Our main takeaways are: 1) management views its business mix geared to property cat reinsurance as being attractive, 2) a robust pace of share buybacks is likely to continue, 3) Everest appears confident in its reserve position."

Gelb raises FY12 EPS estimate from $13.25 to $15.00 and FY13 from $11.50 to $13.50.

For an analyst ratings summary and ratings history on Everest Re Group click here. For more ratings news on Everest Re Group click here.

Shares of Everest Re Group closed at $98.58 yesterday.

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