SunTrust Starts Crawford & Co. (CRD.B) with a Buy Rating

May 14, 2008 7:50 AM EDT

SunTrust Robinson Humphrey initiates coverage on Crawford & Co. (NYSE: CRD.B) with a Buy rating with an $8 price target.

The firm said, "The company appears to be on the front end of a turnaround in operations, driven by a new target-driven management team that is benefiting from investments in quality and systems made over the last two years. Earnings were up sharply in 1Q08 on margins that tripled year over year."

Moreover, analysts highlighted Crawford's International segment is experiencing rapid top line growth while the Broadspire and US Property & Casualty segments have improving margins with higher revenue.

Crawford & Company, with headquarters in Atlanta, is the world's largest independent provider of claims management services for both insurance companies and self-insured clients.

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