Market Overview

UPDATE: Deutsche Bank Upgrades WR Berkley to Hold on Valuation

Related WRB
W.R. Berkley Corp Increased Premium Drives Q2 Earnings Beat
Earnings Scheduled For July 28, 2014
A Stock Play to Help You Sleep at Night (Fox Business)

Deutsche Bank upgraded WR Berkley (NYSE: WRB) from Sell to Hold and raised the price target from $33.00 to $38.00.

Deutsche Bank commented, "While the company earned a 12% ROE in 2012, over 3% of the ROE stems from strategic realization of capital gains, which should not be viewed as runrate. Further, favorable development, which overstates earnings and understates beginning-of-year equity, seems to be dwindling, but still contributed about 1% to ROE in 2012. Earnings around the cost of capital is not unique to Berkley, however, though premium P/B valuations suggest investors believe earnings are likely to emerge from a trough."

WR Berkley closed at $41.17 on Thursday.

Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

Related Articles (WRB)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional