DJ MARKET TALK: Credit Suisse Lifts Munich Re Estimate

08/15/06 - Dow Jones Newswires

0559 GMT [Dow Jones] Credit Suisse raises Munich Re (MUV2.XE) '06 EPS estimate by 17% to EUR13.90, as the company is inexpensive and given 1H '06 results. Says the insurer appears to be more conservative than all of its European peers, as it is not drawing down the reserves it has set up for the more recent years. CS notes "this is probably prudent in light of the ongoing need for additional asbestos reserves." Maintains outperform ratting with EUR126 price target. Shares closed EUR115.65. (JAS)

 
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(END) Dow Jones Newswires

August 15, 2006 01:59 ET (05:59 GMT)

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