Berenberg Deems Munich Re's Five-year Financial Targets 'Achievable'

12:45 AM EST, 12/15/2025 (MT Newswires) -- Berenberg finds Munich Re's (MUV2.F) plans to grow its EPS by over 8% from 2025 to 2030, with an over 80% payout ratio, "ambitious but achievable." Following the German reinsurer's announcement of its new five-year business plan, analysts on Dec. 12 made "minor" adjustments to their earnings estimates. The 2025 EPS projection was slashed by 5% due to lower operating profit from reinsurance and the ERGO insurance group, while the 2026 and 2027 EPS estimates were slightly increased. The research firm also forecasts net income of 6.2 billion euros and 6.36 billion euros for 2025 and 2026, respectively, compared with the company guidance of 6.3 billion euros for 2026. Noting limited upside to its price target of 629 euros, Berenberg reiterated the stock's hold rating.