KBW Raises PT on Montpelier Re Holdings (MRH)
KBW is out with its report today on Montpelier Re Holdings (NYSE: MRH), raising its PT to $21.
In its report sent to clients, KBW states, "Results beat on a
lower loss ratio driven by higher reserve releases and better current AY results helped by lower cats, with NWP growth stronger but investment income weaker. BV grew 3.6% sequentially to $24.61, helped by higher repurchases. We
maintain 2011/2012 EPS, are raising our PT to $21, and remain Market Perform."
At the time of posting, shares of MRH were trading at $20.05, down 1.72% from Thursday's close.
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