Wunderlich Securities Initiates Coverage on Meadowbrook Insurance Group (MIG) with a Buy
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Wunderlich Securities initiates coverage on Meadowbrook Insurance Group (NYSE: MIG) with a Buy. Price target $8.50.
Wunderlich analyst says, "We believe Meadowbrook presents an excellent investment opportunity to purchase a company at a discount to book value that is positioned to take advantage of the synergies presented by its recent acquisition of ProCentury. We believe the merging of the two disparate, almost opposite organizations offers solid growth potential as MIG's agent distribution gains access to ProCentury's excess and surplus lines products. A conservative balance sheet and disciplined underwriting should insure Meadowbrook's book value and return on equity rise over the next year."
To see more analyst ratings on MIG Click Here.
Meadowbrook Insurance Group, Inc. (Meadowbrook) is a specialty insurance underwriter and insurance administration services company.
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