Janney Montgomery Scott Upgrades AXIS Capital (AXS) to Buy

Janney Montgomery Scott upgraded AXIS Capital (NYSE: AXS) from Neutral to Buy.

JMS analyst says, "Many factors are contributing to the changes in underwriting behavior. Industry core underwriting profitability is still deteriorating, interest rates remain very low, catastrophe losses continue to exceed “normal” levels, and reserve positions are nowhere near as redundant today as they once were. These challenges have been present for some time, but it appears that we have finally reached a tipping point."

For more ratings news on AXIS Capital click here and for the rating history of AXIS Capital click here.

Shares of AXIS Capital closed at $32.51 yesterday.

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