Berenberg Keeps Scor Estimates, Price Target After H1 Results

06:24 AM EDT, 08/19/2026 (MT Newswires) -- Berenberg maintained its Scor (SCR.PA) estimates, with analysts expecting "less volatility and more profit" in 2027 to 2029 following its first-half 2026 results. "SCOR will present its next three-year plan, for 2027-29, on 3 December, and we believe that the group's H1 2026 results already hint at the potential new targets," according to a Wednesday note. "We believe that the new 2027-29 targets will include: 1) an unchanged non-life combined ratio target of below 87%; 2) a higher life insurance service result target of EUR0.5bn, up from EUR0.4bn; 3) a 200- 250% target solvency ratio compared with 185-220% now; 4) an ROE target of more than 14%, up from the current target of more than 12%; and 5) an unchanged progressive dividend policy, although with the added ambition of growing DPS in line with EPS." As such, the research firm left its net income, dividend per share, and adjusted operating EPS projections from 2026 to 2028 unchanged. Meanwhile, the stock was maintained at buy and its price target at 44 euros. "SCOR trades at an attractive c30% discount to its EUR50 per share economic value, which is the sum of shareholders' equity and net of tax contractual service margin, the pool of future earnings. This means that SCOR could stop writing new business and still generate upside," Berenberg added.