Drexel Hamilton Starts ACE Ltd (ACE) at Buy; Growth Potential in a Global Insurer
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Price: $111.02 +0.87%
Rating Summary:
11 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Drexel Hamilton initiates coverage on ACE Ltd (NYSE: ACE) with a Buy. PT $85.00.
Analyst, Gloria L. Vogel, said, "ACE is a major global insurer that has demonstrated significant growth and solid returns to its shareholders over its 25-year history. Despite high catastrophe losses and low interest rates in the fourth quarter of 2011, it reported annualized operating ROE of 11.8% versus 13.2% in the comparable fourth quarter of 2010. The five-year combined ratio averaged 90.3% over the period 2007-2011. Book value grew 6% in 2011. We expect above average returns to continue."
"Our EPS estimates are: $7.53 for 2012, and $8.10 for 2013, assuming more normal catastrophe experience."
For an analyst ratings summary and ratings history on ACE Ltd click here. For more ratings news on ACE Ltd click here.
Shares of ACE Ltd closed at $74.16 yesterday.
Analyst, Gloria L. Vogel, said, "ACE is a major global insurer that has demonstrated significant growth and solid returns to its shareholders over its 25-year history. Despite high catastrophe losses and low interest rates in the fourth quarter of 2011, it reported annualized operating ROE of 11.8% versus 13.2% in the comparable fourth quarter of 2010. The five-year combined ratio averaged 90.3% over the period 2007-2011. Book value grew 6% in 2011. We expect above average returns to continue."
"Our EPS estimates are: $7.53 for 2012, and $8.10 for 2013, assuming more normal catastrophe experience."
For an analyst ratings summary and ratings history on ACE Ltd click here. For more ratings news on ACE Ltd click here.
Shares of ACE Ltd closed at $74.16 yesterday.
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