Barclays Cuts Allied World (AWH) to Underweight; Prefers ACE, ACGL, CB & MMC
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Price: $0.08 --0%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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This morning, Barclays downgraded Allied World Assurance (NYSE: AWH) from Equalweight to Underweight, a valuation call after the stock moved up 25% year-to-date.
However, analyst, Jay Gelb, still recommends ACE Ltd (NYSE: ACE)(PT $90), Arch Capital Group (Nasdaq: ACGL) and Chubb (NYSE: CB)(PT $85) and names Marsh & McLennan (NYSE: MMC) as a Top Pick among insurance brokers.
Gelb concluded by saying, "The commercial P&C insurance sector trades at roughly 1x
book value, which provides an attractive entry point."
However, analyst, Jay Gelb, still recommends ACE Ltd (NYSE: ACE)(PT $90), Arch Capital Group (Nasdaq: ACGL) and Chubb (NYSE: CB)(PT $85) and names Marsh & McLennan (NYSE: MMC) as a Top Pick among insurance brokers.
Gelb concluded by saying, "The commercial P&C insurance sector trades at roughly 1x
book value, which provides an attractive entry point."
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