Goldman Sachs Downgrades ACE Ltd (ACE) to Neutral

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May 9, 2012 7:18 AM EDT
Get Alerts ACE Hot Sheet
Price: $111.02 +0.87%

Rating Summary:
    11 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded ACE Ltd (NYSE: ACE) from Buy to Neutral and removes the stock from their Conviction Buy List. The price target remains $85.

The firm sees better opportunities elsewhere.

"We think that although ACE remains a clear leader in the industry with scale and global reach, its diversified presence limits the benefit that better commercial pricing n the US will provide. In addition, we believe that ACE's capital management activities will continue to focus on M&A and not buybacks."

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 $75.82 yesterday.

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Analyst PT Change, Downgrades

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Goldman Sachs Conviction Buy List, Goldman Sachs