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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
Jan 2015BernsteinUpgradesUnderperformMarket Perform
Jan 2015Deutsche BankMaintainsHold
Jan 2015Keefe Bruyette & WoodsMaintainsMarket Perform

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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