Barclays cuts target for Swiss Re stock from CHF 125 to CHF 124

Published on 10/23/2026 at 10:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barclays kept Underweight and cut its target from CHF 125 to CHF 124 on October 23, 2026. Swiss Re stock costs EUR 165.78 on October 23, 2026.

Target, earnings and valuation

Barclays cut its Swiss Re target from CHF 125 to CHF 124 on October 23, 2026.
Second-quarter adjusted earnings per share reached USD 4.45 versus USD 4.40 a year earlier.
Swiss Re stock trades at EUR 165.78 at 10:15 a.m. CEST at Lang & Schwarz on October 23, 2026.
Market capitalization stood at CHF 45.1 billion on October 23, 2026.

Architectural photograph of a contemporary corporate headquarters building in Zurich. A sweeping curved glass curtain-wall facade reflects clouds and the alpine skyline. Structural steel fins cast rhythmic shadows under an overcast northern light — Swiss Re Hauptquartier: modernes Gebäude mit Glasfassade und Alpenpanorama in Zürich, CH0126881561, Illustration mit AI erstellt.

Swiss Re (ISIN CH0126881561) faces a lower Barclays target of CHF 124, down from CHF 125, while the bank kept its Underweight rating on October 23, 2026. Boersen-Zeitung reported that Barclays analyst Claudia Gaspari expects a subdued reporting season and sees large losses, market moves and currency trends as limited near-term influences.

Barclays trims its target

The CHF 1.00 reduction leaves the bank's negative stance unchanged. Barclays also linked its view to softer expectations around the reinsurance market, making the target change a valuation signal rather than a fresh operating warning.

What changed in earnings?

Swiss Re's second-quarter 2026 adjusted earnings per share reached USD 4.45, compared with USD 4.40 in the second quarter of 2025. Revenue was USD 10.1 billion, down 5.2 percent year over year, while net income was USD 1.31 billion and the net margin was 13.0 percent, according to Simply Wall St on October 22, 2026. The combination of lower revenue and stable profitability gives investors a sharper test for underwriting quality than the headline share price alone.

Swiss Re's recent milestones

On March 3, 2026, Swiss Re reported fiscal-year 2025 earnings per share of USD 15.67 versus USD 10.88 in fiscal year 2024. On August 7, 2026, second-quarter earnings per share were reported at USD 4.45 versus USD 4.40 in the prior-year quarter. On October 23, 2026, Barclays cut its target from CHF 125 to CHF 124 while retaining Underweight, as Boersen-Zeitung reported.

Which dates matter next?

Swiss Re is scheduled to publish its nine-month 2026 results on November 5, 2026, according to MarketScreener. Annual results for fiscal year 2026 are scheduled for February 26, 2027, as listed by Simply Wall St.

Stock stays near its yearly high

Swiss Re's market capitalization stood at CHF 45.1 billion on October 23, 2026. The SIX quote was last at CHF 153.05 at 10:13 a.m. CEST on October 23, 2026, against a 52-week range of CHF 114.05 to CHF 154.60. Swiss Re was trading at EUR 165.78 at Lang & Schwarz on October 23, 2026 at 10:15 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Swiss Re stock.