Wunderlich Securities Initiates Coverage on AMERISAFE (AMSF) with a Hold
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Wunderlich Securities initiates coverage on AMERISAFE (Nasdaq: AMSF) with a Hold. Price target $18.
Wunderlich analyst says, "We believe AMERISAFE is an excellent marketer of workers' compensation risks that most insurers would be loath to underwrite. AMERISAFE successfully underwrites high hazard workers compensation insurance products. We rate the shares of AMERISAFE Hold due to the difficult market environment for AMERISAFE's products. We estimate the recession and pricing competition will result in a 23% decline in operating earnings in 2009 to $2.25 from $2.90 in 2008. In addition, average return on equity is expected to decline to 15% from 22.7% a year ago."
To see more analyst ratings on AMSF Click Here.
AMERISAFE, Inc. (AMERISAFE) is an insurance holding company. The Company is a specialty provider of workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging, agriculture, oil and gas, maritime and sawmills.
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