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Wunderlich Securities Anticipates An 18% Book Value Increase For AXIS Capital Holdings


Wunderlich Securities reports that AXIS Capital Holdings Ltd. (NYSE: AXS) is expected to report results for 3Q10 today after the market close.

“We estimate EPS of $1.04 for 3Q10 compared to $1.00 a year ago; the consensus estimate is $1.16,” Wunderlich Securities writes. “We believe AXS's diversified global organization outperformed in 3Q10 due to superior underwriting, deployment of excess cash through share repurchase, and a modest level of catastrophes impacting the reinsurance business.”

Wunderlich Securities said that it anticipates an 18% increase in book value to $37.40 from $31.58 a year ago, adding, “We reiterate our Buy rating and $42 price target on AXS shares.”

AXIS Capital Holdings currently trades at $34.46.

Posted-In: AXIS Capital Holdings Wunderlich SecuritiesAnalyst Ratings


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