Wunderlich Securities Comments on AmTrust Financial Services
Wunderlich Securities provided color on AmTrust Financial Services (NASDAQ: AFSI) in a research report published today. Wunderlich Securities has previously given AmTrust Financial Services a Buy rating and $27 price target.
In the report, Wunderlich Securities states, "AFSI recently completed the acquisition of Majestic Insurance Company. The purchase is expected to be immediately accretive to earnings. In addition, Majestic provides a platform for growth in California. California is one of a number of key states that have experienced favorable price increases in AFSI's core product of workers' compensation insurance."
Shares of AmTrust Financial Services were trading at $23.04, down 2.78% from Thursday's market close.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.