Analysts' opinions
order by
Date Source, author Rating Price in € Price target/
Fair Value
in €
25.07.2008 Merrill Lynch
Brian Shea
Neutral 115.48 130.00
24.07.2008 Lehman Brothers
Matt Lilley
Equal-weight 115.60 133.70
24.07.2008 Deutsche Bank
Spencer Horgan
Hold 114.00 124.00
23.07.2008 Cheuvreux
Dr. Michael Haid
Outperform 114.10 155.00
23.07.2008 Goldman Sachs
Will Morgan
Neutral 112.35 137.00
22.07.2008 WestLB
Thomas Noack
Accumulate 112.30 139.00
15.07.2008 Dresdner Kleinwort
Richard Hewitt
Buy 105.98 148.00
10.07.2008 Keefe, Bruyette & Woods
William Hawkins
Market perform 109.00 150.00
10.07.2008 Merck, Finck & Co.
Konrad Becker
Hold 108.90 135.00
07.07.2008 UBS
Ben Cohen
Neutral 109.34 118.00
03.07.2008 Landesbank Baden-Württemberg
Robert Mazzuoli
Buy 111.26 123.00
30.06.2008 Oddo
Nicolas Jacob
Add 111.55 145.00
26.06.2008 Santander
Valvanera Gómez Pastor
Buy 115.25 146.00
16.06.2008 Morgan Stanley
Andrew Broadfield
Equal-weight 121.20 157.00
05.06.2008 Ibersecurities
Laura Benito
Sell 119.38 120.00
19.05.2008 DZ Bank
Thorsten Wenzel
Buy 121.59 159.00
16.05.2008 Credit Suisse
Merryleas Hyde
Neutral 122.65 150.00
15.05.2008 BayernLB
Dirk Krieger
Hold 122.62 140.00
14.05.2008 NordLB
Constantin Rohrbach
Hold 125.00
13.05.2008 SEB
Manfred Jakob
Buy 148.00
09.05.2008 Exane BNP Paribas
Thomas Fossard
Underperform 121.50 140.00
09.05.2008 Natixis
Guy Akouvi
Add 121.45 142.00
09.05.2008 Fox-Pitt, Kelton
Raghu Hariharan
In-line 121.45 151.80
09.05.2008 Standard and Poor´s Equity Research
Tony Silverman
Buy 125.00 142.00
09.05.2008 HypoVereinsbank / UniCredit
Lucio Di Geronimo
Buy 121.80 160.00
09.05.2008 J.P. Morgan
Michael Huttner
Overweight 121.62 165.00
09.05.2008 Landsbanki Kepler
Fabrizio Croce
Buy 121.45 163.00
09.05.2008 BHF Bank
Thilo Gorlt
Sell 121.45 102.00
09.05.2008 Metzler
Jochen Schmitt
Buy 121.45 155.00
09.05.2008 M. M. Warburg
Ralf Dibbern
Hold 121.45 140.00
09.05.2008 Helvea
Tim Dawson
Neutral 121.00 145.00
08.05.2008 ING
Kevin Ryan
Buy 121.45 141.00
08.05.2008 Independent Research
Pierre Drach, Markus Armer
Accumulate 125.00 130.00
08.05.2008 Daiwa
Tim Proudlove
4 124.80 141.00
08.05.2008 Cazenove
Fahad Changazi
In-line 123.60
08.05.2008 Société Générale
Birgit Röper-Grüner
Hold 124.60 125.00
08.05.2008 Oppenheim
Dr. Stephan Kalb
Buy 125.00 162.00
08.05.2008 Citigroup
James Quin
Hold 124.64 140.00
05.05.2008 BBVA
Silvia Rigol Carneiro
Outperform 127.03 156.00
30.04.2008 Vontobel
Uwe Otten
Hold 121.94 140.00
28.04.2008 Ahorro Corporación Financiera
María Paz Ojeda
Buy 123.66 151.40
05.03.2008 HSBC
John Russell
Overweight 115.69 151.00
20.02.2008 Execution
Joy Ferneyhough
Buy 115.00 150.00
Important note

This list is for information purposes only and does not constitute a recommendation to buy or sell shares. The Munich Reinsurance Company assumes no responsibility for the use of these research reports or their contents.