BGB Securities Maintains Buy Rating on HCC Insurance Holdings

BGB Securities maintains its Buy rating on HCC Insurance Holdings HCC and presently has a $40 price target on the company. In the report, BGB Securities writes, "HCC beat the consensus estimate for 4Q11 on higher Other Operating Income and reserve releases. Management issued 2012 guidance that surrounds the current consensus estimate. We believe the company will perform near the top of its estimate range for 2012 barring a repeat of the CAT events of 2011. We maintain our BUY rating on HCC." Shares of HCC Insurance holdings are currently trading at $30.36, up 1% from yesterday's close.