UPDATE: Stifel Nicolaus Raises PT to $30 on XL Group on Core Underwriting Beat
Stifel Nicolaus reiterated its Buy rating on XL Group (NYSE: XL) and increased its price target from $28 to $30.
Stifel Nicolaus noted, "XL's 3Q12 operating EPS of $0.61 beat the Street's $0.49 and our $0.51 estimates, reflecting a better-than-expected core loss ratio, lower-than-expected CAT losses, and a better-than-expected tax rate. … Much of the 3Q12 beat reflected core loss ratio improvement as XL's underwriting actions bear fruit, while 2.5 points of favorable PPRD trailed our 3.3 point estimate."
XL Group closed at $24.22 on Monday.
Latest Ratings for XL
|Jan 2015||Bernstein||Upgrades||Underperform||Market Perform|
|Jan 2015||Deutsche Bank||Maintains||Hold|
|Jan 2015||Keefe Bruyette & Woods||Maintains||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.