Market Overview

UPDATE: Deutsche Bank Upgrades W.R. Berkley Corporation to Hold, Raises PT

Related WRB
Why Unum Group is a Good Investment Pick - Analyst Blog
Hanover Insurance Scales 52-week High - Analyst Blog

In a report published Friday, Deutsche Bank upgraded its rating on W.R. Berkley Corporation (NYSE: WRB) from Sell to Hold, and raised its price target from $33.00 to $38.00.

Deutsche Bank noted, ÔÇťAmidst a period of multiple contraction for many specialty underwriters like Berkley, shares now trade in-line with large-cap commercial P&C peers like ACE and Travelers at 1.45x tangible book excl. AOCI. Arguably, the large-cap firms have shown more sustainable earnings power as the 2004-2010 decline in P&C pricing took a greater toll on specialty lines.

W.R. Berkley Corporation closed on Thursday at $41.17.

Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

Most Popular

Related Articles (WRB)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free