Keefe, Bruyette & Woods Lowers Price Target On SeaBright $7.50
According to Keefe, Bruyette & Woods, SeaBright Holdings (NYSE: SBX) missed on an $0.83/share after tax reserve charge driven by deteriorating medical severity and longer claim duration trends.
KBW said that, “We're lowering our '11 and'12 EPS estimates and we're lowering our TP to $7.50. We are maintaining the MP rating.”
SeaBright closed yesterday at $8.63.
Posted-In: Keefe Bruyette & WoodsAnalyst Color Price Target Analyst Ratings
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