Keefe, Bruyette & Woods Downgrades AmTrust Financial (AFSI) to Market Perform; Valuation Call
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Price: $14.75 --0%
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Keefe, Bruyette & Woods downgraded AmTrust Financial (NASDAQ: AFSI) from Unerperform to Market Perform, price target raised to $24.00.
KBW analyst says, "AmTrust's 2Q included strong top-line growth and a solid 90% combined ratio. Excluding foreign currency gains and a lower than expected tax rate, normalized results missed our expectations. We're raising our FY11 EPS estimate, but lowering our FY12 EPS estimate."
For more ratings news on AmTrust Financial click here and for the rating history of AmTrust Financial click here.
Shares of AmTrust Financial closed at $23.22 yesterday.
KBW analyst says, "AmTrust's 2Q included strong top-line growth and a solid 90% combined ratio. Excluding foreign currency gains and a lower than expected tax rate, normalized results missed our expectations. We're raising our FY11 EPS estimate, but lowering our FY12 EPS estimate."
For more ratings news on AmTrust Financial click here and for the rating history of AmTrust Financial click here.
Shares of AmTrust Financial closed at $23.22 yesterday.
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