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UPDATE: Deutsche Bank Upgrades WR Berkley to Hold on Valuation

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W. R. Berkley Corp Forms Two Units to Boost Operations
Earnings Scheduled For April 24, 2017

Deutsche Bank upgraded WR Berkley (NYSE: WRB) from Sell to Hold and raised the price target from $33.00 to $38.00.

Deutsche Bank commented, "While the company earned a 12% ROE in 2012, over 3% of the ROE stems from strategic realization of capital gains, which should not be viewed as runrate. Further, favorable development, which overstates earnings and understates beginning-of-year equity, seems to be dwindling, but still contributed about 1% to ROE in 2012. Earnings around the cost of capital is not unique to Berkley, however, though premium P/B valuations suggest investors believe earnings are likely to emerge from a trough."

WR Berkley closed at $41.17 on Thursday.

Latest Ratings for WRB

DateFirmActionFromTo
Oct 2017Deutsche BankMaintainsHold
Oct 2017Bank of AmericaMaintainsNeutral
Oct 2017UBSMaintainsSell

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Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

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