Stifel Nicolaus Reiterates Buy on XL Group
Stifel Nicolaus is out with its report today on XL Group (NYSE: XL), maintaining Buy.
In its report, Stifel Nicolaus writes, "Shares of XL trade at 0.64x current BV of $30.87, a significant discount compared with most of its peers. We believe that management will continue to focus on performance, discipline and growth. We believe XL's loss experience and results continue to be a testament to XL's enhanced financial strength, diversification and resilience in the marketplace. Our target price of $28.00 is based on 0.84x our 2012 BV estimate of about $33.16. Reiterate Buy rating."
At the time of posting, shares of XL were trading at $19.27, down 2.68% from Wednesday's close.
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