Deutsche Bank Starts Montpelier Re Holdings (MRH) at Buy

December 2, 2013 8:52 AM EST Send to a Friend
Get Alerts MRH Hot Sheet
Price: $35.70 +0.54%

Rating Summary:
    0 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 8 | New: 33
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Deutsche Bank initiates coverage on Montpelier Re Holdings (NYSE: MRH) with a Buy and $37.50 price target. They set 2014 and 2015 estimates of $3.30 and $3.70, respectively.

Analyst Joshua Shanker comments, "We are the high on the Street in terms of EPS outlook. Our current assumption is that Montpelier Re habitually over-reserves for losses at a trend of about 25.0% per annum, leading us to assume that reserves at the company are overstated by about $450 million. Looking out to 3Q14, we expect book value per share to be approximately $30 and estimate reserves would be overstated by about $400 million, leaving BVPS underestimated by about $7.50 per share."

For an analyst ratings summary and ratings history on Montpelier Re Holdings click here. For more ratings news on Montpelier Re Holdings click here.

Shares of Montpelier Re Holdings closed at $29.06 yesterday.


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