RNR Price Prediction Next Week
Based on the provided data and technical analysis, here is the price prediction for RenaissanceRe Holdings (RNR) for the next trading week:
Technical Analysis
The stock is currently showing mixed signals with RSI at 41.61 indicating neutral momentum . The stock is trading between its 20-day SMA ($247.73) and 200-day SMA ($246.70), suggesting a consolidation phase.
News Sentiment & Fundamental Analysis
- JMP Securities maintains a Hold rating with a price target of $284.70, indicating a potential upside of 20.18%
- Strong Q3 2024 performance with revenue of $3.75B and net profit of $1.18B, significantly up from previous year
- Expected Q4 2024 EPS of $7.39, though representing a 37.2% YoY decrease
- The company has beaten earnings estimates in all four previous quarters
Price Targets for Next Week
- Support levels: $231.19 (Fibonacci S1), $223.03 (Fibonacci S2)
- Resistance levels: $257.63 (Fibonacci R1), $265.79 (Fibonacci R2)
Prediction Based on technical indicators and news sentiment:
- Base case (60% probability): Stock likely to trade between $244-257 range
- Bullish case (25% probability): Break above $257.63 could push price toward $265
- Bearish case (15% probability): Break below $231 could see further decline
Trading Recommendation HOLD position for next week. While fundamentals remain strong, technical indicators suggest consolidation. Wait for clearer directional signals before initiating new positions.
RNR Similar Chart Price Prediction
The price of RNR is predicted to go up -4.38%, based on the high correlation periods with HBNC. The similarity of these two price pattern on the periods is 96.43%.
RNR
HBNC
Down: -4.38%Similarity: 96.43%
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RNR Analyst's Forecast
Elyse Greenspan
Wells Fargo
Buy
2025-01-14
Price Target
$301 → $288
Upside
+14.68%
Wells Fargo analyst Elyse Greenspan lowered the firm's price target on RenaissanceRe to $288 from $301 and keeps an Overweight rating on the shares. Discussing the insurance industry, Wells notes that for non-life insurance, the focus remains on cats, pricing, loss trend, reserves and margins. Domestically Q4 cats are above normal due to Milton, with international losses from Spanish floods. For Life insurance, the focus is on sales growth, rate commentary, Group results, and guides. Sales growth should continue to get attention, while group results are trending well, and life companies continue to return capital. Meanwhile, Brokers should continue to see good organic growth, the firm adds.
Alex Scott
Barclays
Hold → Sell
2025-01-06
Price Target
$234
Downside
-5.88%
Jimmy Bhullar
JP Morgan
Hold
2025-01-03
Price Target
$280 → $284
Upside
+12.33%
