Amtrust Financial Services (AFSI) Gets A Price Downgrade: Still Remains A ‘Buy’
January 11, 2010 4:14 PM
In a recently released report, Research firm Keefe, Bruyette & Woods has given an ‘Outperformer’ rating to Amtrust Financial Services (NASDAQ: AFSI). However, it has lowered the price target from $17 to $16. It retained the earnings estimate for year 2009 at $2.10.
Argo Group Int. (NASDAQ: AGII) has also been given a ‘Buy’ rating. Its estimated EPS for Year 2009 has been pegged at $4.30 which is up from EPS of $1.04 for Year2008. However, its price target has been lowered from $47 to $39.
Employers Holdings Inc. (NYSE: EIG) also saw its price target being lowered. The new price target is $16 down from $17.5. EPS for Year2009 has been estimated at $1.5. Eastern Insurance Holdings (NASDAQ: EIHI) is likely to outperform the market and is expected to reach $12. Its earnings for Year 2009 have been estimated at $0.80.
EMC Insurance Group (NASDAQ: EMCI) has been given a ‘hold’ recommendation with the price target of $21, which is down from earlier estimates of $22. Its earnings for Year 2009 are estimated to be $2.00 for Year 2009. Both First Mercury Financial Corp. (NYSE: FMR) and Maidens Holdings Ltd. (NASDAQ: MHLD) are expected to outperform the market with the respective price target of $17 and $9.5. Earlier price estimates for First Mercury Financial Corp. were pegged at $18. Earnings estimate for Year 2009 for First Mercury Financial Corp. and Maidens Holdings Ltd. are $1.45 and $0.87.
