Goldman Sachs Downgrades XL Group plc (XL) to Sell

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Goldman Sachs downgraded XL Group plc (NYSE: XL) from Neutral to Sell with a price target of $21 (down from $22).

The firm said the comapny's professional liability-heavy book, along with the ramp in hiring last year, will make it difficult to see margin expansion despite a moderate improvement in pricing. They belive margin improvement at XL will lag peers with a lower expense load or and better books of business.

For an analyst ratings summary and ratings history on XL Group plc click here. For more ratings news on XL Group plc click here.

Shares of XL Group plc closed at $20.35 yesterday, with a 52 week range of $17.69-$23.78.

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