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

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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.

Latest Ratings for WRB

Jan 2016Morgan StanleyUpgradesUnderweightEqual-weight
Sep 2015Sterne Agee CRTInitiates Coverage onNeutral
Jul 2015UBSDowngradesNeutralSell

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Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings


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