Keefe, Bruyette & Woods Downgrades Zenith National Insurance (ZNT) to Underperform
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- Keefe, Bruyette & Woods Downgrades Zenith National Insurance (ZNT) to Underperform
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Keefe, Bruyette & Woods downgrades Zenith National Insurance (NYSE: ZNT) to Underperform. Price target increased to $25.
Keefe analyst says, "We're lowering Zenith to Underperform on valuation. The total projected loss is 16%. Zenith's shares have appreciated 50% over the last three months. While the economy seems to have bottomed, we still expect Zenith to produce low single-digit returns at least through 2010. As such, we believe the run on Zenith's stock is premature. Given our expectation for BV growth, we are raising our target price."
To see more analyst ratings on ZNT Click Here.
Zenith National Insurance Corp., through its subsidiaries, provides workers' compensation insurance in the United States.
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