Market Overview

UPDATE: Miller Tabak Upgrades ACE Limited to Buy on Valuation

Share:
Related ACE
Citigroup Initiates Coverage On United Technologies
ACE Group CEO Makes Statement on Senate Failure to Extend TRIA
As Threats Grow, Firms to Cyber Insurance (Fox Business)

Miller Tabak upgraded Ace Limited (NYSE: ACE) from Hold to Buy and initiated a $91.50 price target.

Miller Tabak said, "We believe the entire property/casualty stock group is at the beginning of an upward revaluation by investors, and we expect ACE -- with its focus on disciplined underwriting standards -- to be a leader in this process. The key driver of this expected industry upgrade is the emergence of powerful underwriting profit momentum in the US in 2013-2014, and the belief that investors will pay more for sustained underwriting profits than for expected investment income."

ACE Limited closed at $83.90 on Wednesday.

Latest Ratings for ACE

DateFirmActionFromTo
Jan 2015JMP SecuritiesMaintainsMarket Outperform
Jan 2015Wells FargoDowngradesOutperformMarket Perform
Jan 2015BarclaysMaintainsOverweight

View More Analyst Ratings for ACE
View the Latest Analyst Ratings

Posted-In: Miller TabakAnalyst Color Upgrades Analyst Ratings

 

Related Articles (ACE)

Around the Web, We're Loving...

Get Benzinga's Newsletters