Barclays Reiterates an 'Equalweight' on Fidelity National (FNF); Continues Strong Performance, Though Shares Look Fairly Valued

Barclays reiterates an 'Equalweight' on Fidelity National (NYSE: FNF) price target raised $2 to $17.

Barclays analyst says, "FNF once again delivered better-than-expected earnings despite considerable headwinds from fading refinance activity that is being at least partially offset by surging commercial volumes and strong expense discipline. With shares already trading at 12.3x our new 2012 EPS estimate and 1x our 2Q12 book value estimate, however, and the potential that earnings estimates could come under pressure if mortgage volumes contract more than expected, we see the shares as fairly valued...We are raising our estimates for 2011 and 2012 to $1.55 and 1.35 from $1.45 and $1.27, respectively."

For more ratings news on Fidelity National click here and for the rating history of Fidelity National click here.

Shares of Fidelity National closed at $16.27 yesterday.

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