BMO Capital Upgrades Allied World Assurance (AWH) to Market Perform

BMO Capital upgraded Allied World Assurance (NYSE: AWH) from Underperform to Market Perform with a price target of $54.00, sayign they expected the Fairfax merger to close at agreed upon terms of $54/share.

Analyst Charles Sebaski commented, "We expect the Allied/Fairfax merger to close at agreed upon terms of $54 a share for AWH. While the final composition of FFH shares to cash is likely to change, we do not expect to valuation to change. Additionally, while a second bidder is always a possibility we see about the same low probability in a all-cash under bidder as we do to a new over bidder given the current high stock component and premium valuation of the transaction."

For an analyst ratings summary and ratings history on Allied World Assurance click here. For more ratings news on Allied World Assurance click here.

Shares of Allied World Assurance closed at $53.00 yesterday.

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