Goldman Sachs Starts AXIS Capital (AXS) at Buy

December 13, 2012 8:04 AM EST Send to a Friend
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Price: $51.15 -0.29%

Rating Summary:
    5 Buy, 9 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 27 | Down: 26 | New: 30
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Goldman Sachs initiates coverage on AXIS Capital (NYSE: AXS) with a Buy. PT $43.00.

The firm comments, "We expect that Axis will break its trend of reporting outsized losses for CAT events when it reports losses for Hurricane Sandy as the company has recently reduced CAT exposure. Reduced volatility should have a positive impact on Axis peer low valuation."

For an analyst ratings summary and ratings history on AXIS Capital click here. For more ratings news on AXIS Capital click here.

Shares of AXIS Capital closed at $35.91 yesterday.

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