Wunderlich Securities Maintains a 'Buy' on Stancorp Financial (SFG); Raises Price Target
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Wunderlich Securities maintains a 'Buy' on Stancorp Financial (NYSE: SFG), raises price target from $41 to $51.
Wunderlich analyst says, "We are raising our 12 month price target to $51 from $41 following discussions with management regarding the favorable outlook for SFG's employee benefits business and
the expected improvement in SFG's investment portfolio. We believe stablized economic conditions and the possibility of increased demand for employee benefits in 2010 supports a higher valuation. Our new price target represents 1.2 times estimated 2010 book value of $39.08, which is a discount to historical normalized valuation...We believe the fact that claims are not likely to increase due to the recession provides confidence in our forecast of SFG's benefit ratio of 74.4%. Our forecast assumes the claims ratio remains relatively stable even in more difficult financial times."
To see more analyst ratings on SFG Click Here.
StanCorp Financial Group, Inc., through its subsidiaries, provides group insurance products and services in the United States.
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