UPDATE: Barclays Downgrades Allied World Assurance (AWH) to Underweight; Taking Profits After Year-To-Date Run
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Price: $88.86 --0%
Rating Summary:
5 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
5 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade AWH Now!
(Updated - July 2, 2012 12:40 PM EDT)
Barclays downgraded Allied World Assurance (NYSE: AWH) from Equalweight to Underweight with a $70 price target (from $75.00).
Analyst, Jay Gelb, said, "The stock is up 25% ytd 2012 (vs 6% for the S&P 500) and its valuation now exceeds other Bermuda P&C insurers and reinsurers at 0.92x BV. We are also mindful that the benefit of its substantial reserve releases could slow, which would be a headwind for earnings."
For an analyst ratings summary and ratings history on Allied World Assurance click here. For more ratings news on Allied World Assurance click here.
Shares of Allied World Assurance closed at $79.47 yesterday, with a 52 week range of $49.00-$79.55.
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Barclays downgraded Allied World Assurance (NYSE: AWH) from Equalweight to Underweight with a $70 price target (from $75.00).
Analyst, Jay Gelb, said, "The stock is up 25% ytd 2012 (vs 6% for the S&P 500) and its valuation now exceeds other Bermuda P&C insurers and reinsurers at 0.92x BV. We are also mindful that the benefit of its substantial reserve releases could slow, which would be a headwind for earnings."
For an analyst ratings summary and ratings history on Allied World Assurance click here. For more ratings news on Allied World Assurance click here.
Shares of Allied World Assurance closed at $79.47 yesterday, with a 52 week range of $49.00-$79.55.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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