In a report published Friday, Deutsche Bank upgraded its rating on W.R. Berkley Corporation WRB from Sell to Hold, and raised its price target from $33.00 to $38.00.
Deutsche Bank noted, “Amidst 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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in