Wells Fargo Downgrades Transatlantic Holdings (TRH) to Market Perform; Conference Call Round Up

Wells Fargo downgraded Transatlantic Holdings (NYSE: TRH) to Market Perform.

Wells analyst says, "Transatlantic and Allied World (NYSE: AWH) hosted a joint conference call this morning (6/13) on last night's merger announcement. The main advantages of the deal include greater scale and capital flexibility, in our view. We are not changing our EPS estimates. TRH shares are up today due to the premium associated with the transaction. We do not see an obvious alternative bidder for Transatlantic. Downgrading to Market Perform; lowering our valuation range to $50-53 from $60-63 as the shares should trade close to the acquiring price."

For more ratings news on Transatlantic Holdings click here and for the rating history of Transatlantic Holdings click here.

Shares of Transatlantic Holdings closed at $44.01 yesterday.

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