In a report published Tuesday, Sterne Agee analyst Dan Farrell raised the price target on Atlas Financial Holdings AFH from $8 to $11, while reiterating its Buy rating.
In the report, Sterne Agee noted, “We are raising our price target to $11 from $8 per share given increasing confidence in earnings growth trajectory. The company has exceeded our premium growth assumptions over the last 2 quarters and continues to achieve rate increases that should drive LR improvement. Our EPS estimates for 2014 and 2015 imply 106% and 33% growth in EPS, respectively, and we feel our top line and LR assumptions could still prove conservative.”
Atlas Financial Holdings closed on Monday at $8.80.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
