NEW YORK (Reuters) ? Shares of Everest Re Group Ltd. should benefit from the 2006 US storm season that began on June 1, as the reinsurer should write a lot of high-priced policies at renewal time, Barron?s reported yesterday.

According to Barron?s, Bear Stearns analyst David Small said that many reinsurers have been ?scared off? by last year?s hurricanes, making it harder to get reinsurance, and pushing up reinsurance prices.

Small is targeting Everest Re?s stock at $110, the paper reported.

Yesterday, Bermuda-based Everest Re closed down $1.96 at $88.68 as Bermuda-based insurers and reinsurers were battered on fears of rising interest rates.

Other Bermuda stocks that were knocked included Max Re, down 4.46 percent to $22.71, Ace, down 2.63 percent to $49.74, PXRe, off 2.26 percent to $3.89 and XL, which fell 2.23 percent to $62.21.