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On Friday, Berenberg analysts reinstated coverage on Beazley PLC (BEZ:LN) (OTC:BZLYF), assigning the stock a Buy rating with a price target of GBP11.50. The firm’s analysts highlighted Beazley as their top choice within the London insurance market, pointing to the potential for growth in the cybersecurity insurance sector.
The analysts noted that pricing in cyber insurance has decreased by 16% since the peak in the summer of 2022, yet it remains over 70% higher compared to four years prior. They anticipate an inflection point in cyber insurance pricing, influenced by market expansion, changing risks, and strict underwriting discipline. The global cyber insurance market is expected to double in size over the next five years.
Beazley, recognized as a well-established primary carrier in the cyber insurance space, is expected to benefit significantly from these market developments. The analysts’ outlook is supported by Beazley’s current share price, which is trading at approximately 7.5 times Berenberg’s estimated earnings per share (EPS) for 2026. This valuation represents a 15-20% discount to the company’s long-run average, suggesting an attractive entry point for investors.
The firm also underscored the potential for investors to achieve low-double-digit total yields per annum, reinforcing their positive stance on Beazley’s stock. This reinstatement of coverage and the new price target reflect Berenberg’s confidence in Beazley’s positioning and future performance within the evolving cyber insurance market.
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