Market Overview

UPDATE: Stifel Nicolaus Raises PT to $30 on XL Group on Core Underwriting Beat

Related XL
XL Group Shares Move Higher After Being Added To Morgan Stanley's 'Best Ideas' List
#PreMarket Primer: Tuesday, July 29: Russia Accused Of Violating Nuclear Treaty

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.

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (XL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters