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Compass Point Starts Meadowbrook Insurance (MIG) at Buy

April 2, 2013 7:11 AM EDT Send to a Friend
Get Alerts MIG Hot Sheet
Price: $5.75 -1.71%

Rating Summary:
    4 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 10 | New: 20
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Compass Point initiates coverage on Meadowbrook Insurance (NYSE: MIG) with a Buy and $8.50 price target noting the stock is trading below tangible book value.

"MIG presents an opportunity to purchase a specialty P&C insurer trading below tangible book value that has historically been a steady performer (though not an out performer) when compared to peers," analyst Ken Billingsley states. "The company tends to produce less volatile results than its peers. The recent reserve stumble during 2012 allows investors to invest near the bottom of the company’s recovery that has already been put in place."

For an analyst ratings summary and ratings history on Meadowbrook Insurance click here. For more ratings news on Meadowbrook Insurance click here.

Shares of Meadowbrook Insurance closed at $7.03 yesterday.




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