Evercore ISI Upgrades RenaissanceRe Holdings (RNR) from “Underperform” to “In Line” with $244 Price Target

RIT Capital Partners holds $48,129,840 worth of RenaissanceRe Holdings Ltd. (NYSE:RNR) shares, representing 6.03% of its portfolio. With this, the company secures a spot on our list of billionaire Jacob Rothschild’s RIT Capital Partners: 9 stocks with huge upside potential. While the upside for RenaissanceRe is not substantial, the stock was still the fund’s sixth-largest holding as of the end of Q2.

An Analyst from Evercore ISI Upgrades RenaissanceRe Holdings Ltd. (RNR) from “Underperform” to “In Line” with $244 Price Target

On October 1, 2025, an analyst from Evercore ISI upgraded RenaissanceRe Holdings Ltd. (NYSE:RNR) from “Underperform” to “In Line” with a $244 price target.

The analyst’s upgrade on RenaissanceRe Holdings Ltd. (NYSE:RNR) reflects a correction of his stance, highlighting that the company’s book value per share growth has outpaced its price-to-book de-rating since the firm initiated its coverage of RNR. Although the company’s earnings forecasts remain below consensus, the analyst sees a mid-teen return on equity, believing RenaissanceRe Holdings Ltd. (NYSE:RNR)’s current 1.1x price-to-book ratio excluding AOCI (accumulated other comprehensive income) already incorporates conservative market assumptions.

Meanwhile, the analyst holds a cautious stance on the broader reinsurance sector, expecting up to 20% rate softening in January renewals. Still, he believes RenaissanceRe Holdings Ltd. (NYSE:RNR)’s current valuation remains consistent with 2014-2015 levels when market conditions were weaker, implying limited downside despite uncertainty in casualty reserves and normalization of net investment income.

RenaissanceRe Holdings Ltd. (NYSE:RNR), based in the U.S. and other international markets, offers reinsurance and insurance products. It is included in Jacob Rothschild’s RIT Capital Partners’ Stock Portfolio.

While we acknowledge the potential of RNR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RNR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.