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UPDATE: Sterne Agee Initiates United Insurance Holdings at Buy on Growth Outlook

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Sterne Agee initiated coverage on United Insurance Holdings (NASDAQ: UIHC) with a Buy rating and an $8 price target.

Sterne Agee commented, "UIHC has a strong underwriting track record providing homeowners coverage in FL and is well positioned to expand in catastrophe/wind-exposed regions given its expertise and current pricing momentum. We feel valuation at 98% of 4Q12E TBV is attractive given growth opportunities and our expectation of improving earnings (to mid/high teens ROE)."

United Insurance Holdings closed at $5.74 on Thursday.

Posted-In: Sterne AgeeAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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