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

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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

DateFirmActionFromTo
Dec 2014Keefe Bruyette & WoodsDowngradesOutperformMarket Perform
Dec 2014JP MorganInitiates Coverage onUnderweight
Oct 2014CitigroupMaintainsSell

View More Analyst Ratings for XL
View the Latest Analyst Ratings

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

 

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