UPDATE: Sterne Agee Initiates United Insurance Holdings at Buy on Growth Outlook
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.
Latest Ratings for UIHC
|May 2014||Raymond James||Maintains||Outperform|
|Apr 2014||Wells Fargo||Initiates Coverage on||Outperform|
|Jan 2014||Raymond James||Maintains||Outperform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.