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UPDATE: Deutsche Bank Upgrades WR Berkley to Hold on Valuation

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Eventual Rate Hike Could Keep Insurance Stocks Sizzling
Earnings Scheduled For July 27, 2015
W. R. Berkley Remains Well Poised for Long Term Growth (Zacks)

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.

Latest Ratings for WRB

DateFirmActionFromTo
Jul 2015UBSDowngradesNeutralSell
Jul 2015Bank of AmericaDowngradesBuyNeutral
Jul 2015Goldman SachsUpgradesNeutralBuy

View More Analyst Ratings for WRB
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

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