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Piper Jaffray downgrades Affirmative Insurance (AFFM) to Sell

November 20, 2007 12:32 PM EST
AFFM Hot Sheet
Rating Summary:
    0 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 16 | Down: 7 | New: 23
Piper Jaffray downgrades Affirmative Insurance (Nasdaq: AFFM) from Neutral to Sell and cut its price target from $13 to $10. The firm cited a diminished outlook for 2008 production and a lack of transparency on 2008 earnings.

Affirmative Insurance Holdings, Inc. is a distributor and producer of non-standard personal automobile insurance policies to individual consumers.

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