Morgan Stanley Feels More Positive On XL Group PLC
In a report published Tuesday, Morgan Stanley analyst Kai Pan reiterated an Overweight rating and $39.00 price target on XL Group PLC (NYSE: XL).
In the report, Morgan Stanley noted, “We are incrementally more positive on XL's ability to deliver a double-digit ROE following a call with CFO Peter Porrino. Mr. Porrino highlighted the company's progress in recent years, including changes in underwriting teams, greater consistency in capital management, and recent divestiture of Life Re. XL management is very focused on achieving a 10%+ ROE and identifies key drivers as: (1) improving Insurance underwriting profitability, (2) consistent share buybacks, and (3) profitable growth.”
XL Group PLC closed on Monday at $32.73.
Latest Ratings for XL
|Nov 2016||Citigroup||Initiates Coverage On||Neutral|
|Sep 2016||Janney Capital||Downgrades||Buy||Neutral|
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