Market Overview

Morgan Stanley Feels More Positive On XL Group PLC

Share:
Related XL
Benzinga's Top #PreMarket Losers
JMP Securities Upgrades XL Group To Market Outperform

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

DateFirmActionFromTo
Apr 2015Deutsche BankMaintainsHold
Apr 2015JMP SecuritiesUpgradesMarket PerformMarket Outperform
Apr 2015UBSUpgradesNeutralBuy

View More Analyst Ratings for XL
View the Latest Analyst Ratings

Posted-In: Kai Pan Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (XL)

Around the Web, We're Loving...

Get Benzinga's Newsletters