Keefe, Bruyette & Woods Downgrades EMC Insurance Group (EMCI) to Underperform; Valuation Call
EMCI Hot Sheet
Rating Summary:0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Keefe, Bruyette & Woods downgrades EMC Insurance Group Inc. (Nasdaq: EMCI) from Market Perform to Underperform. Price target $19.
Keefe analyst says, "We are downgrading EMCI to Underperform from Market Perform based on the stock's current valuation. The stock has appreciated almost 16% over the last three trading sessions, which we believe may be attributed to misperceptions regarding EMCI's common stock investments, which prompted an 8-K filing to clarify. With the run up of EMCI's shares, the total projected return is now (18.2)%, so we are lowering the rating to Underperform."
To see more analyst ratings on EMCI Click Here.
EMC Insurance Group Inc., through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States.
Keefe analyst says, "We are downgrading EMCI to Underperform from Market Perform based on the stock's current valuation. The stock has appreciated almost 16% over the last three trading sessions, which we believe may be attributed to misperceptions regarding EMCI's common stock investments, which prompted an 8-K filing to clarify. With the run up of EMCI's shares, the total projected return is now (18.2)%, so we are lowering the rating to Underperform."
To see more analyst ratings on EMCI Click Here.
EMC Insurance Group Inc., through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States.
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