UPDATE: Piper Jaffray Starts Symetra Financial (SYA) at Neutral

Piper Jaffray initiated coverage on Symetra Financial (NYSE: SYA) with a Neutral rating and a price target of $25.00.

Analyst John Nadel commented, "Fundamentally we view SYA shares as overvalued at 12.6x our 2016E EPS and 1.2x BVPS excl. AOCI. That said, with improving growth in the niche medical stop-loss business (SYA's highest return business) and ever-present takeout risk, we initiate coverage with a Neutral rating."

For an analyst ratings summary and ratings history on Symetra Financial click here. For more ratings news on Symetra Financial click here.

Shares of Symetra Financial closed at $24.46 yesterday.

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