Jefferies downgrades Everest Group to 'hold' on reserve concerns
** Jefferies downgrades reinsurer Everest Group EG.N to "hold" from "buy"
** Brokerage says with EG conducting long-tail deep dive reserve studies within its insurance segment in Q4 2024, investors are expecting reserve strengthening
** But less informative reserve disclosures from EG limit its ability to quantify potential strengthening
** Insurers set aside reserves or estimated amounts to meet any future claims they may have to payout
** Brokerage expects EG shares to be largely range-bound until investor concerns are put to rest
** Seven of 13 brokerages rate the stock "buy" or higher and six "hold"; median PT $420 - LSEG data
** As of last close, EG shares up 10.3% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
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