Keefe, Bruyette & Woods Starts National Interstate (NATL) at Market Perform; Shares Fairly Valued

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September 8, 2011 7:59 AM EDT
Get Alerts NATL Hot Sheet
Price: $46.93 -0.11%

Rating Summary:
    1 Buy, 6 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Keefe, Bruyette & Woods initiates coverage on National Interstate (NASDAQ: NATL) with a Market Perform. PT $26.00.

KBW analyst says, "NATL, which is 52% owned by AFG, is a leading niche underwriter specializing in transportation and alternative risk transfer (ART) products. With a track record of generating double-digit ROEs, NATL trades at a premium to peers, which we view as appropriate. But given the current competitive landscape, and the stock's premium multiple, near-term upside potential appears somewhat limited, in our view."

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

Shares of National Interstate closed at $23.62 yesterday.

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