MARKET TALK: Jefferies Starts Coverage Of Specialist Insurers

20th Jul 2010 07:10

0610 GMT [Dow Jones] Jefferies initiates coverage of London-listed specialist insurers with a positive view. Starts Amlin (AML.LN) and Lancashire Holdings (LRE.LN) at buy with 478p and 638p targets respectively; Catlin (CGL.LN) and Hiscox (HSX.LN) at hold with 406p and 371p targets respectively; and, lastly, Brit Insurance at underperform with a target of 804p. Does not agree with the general view that these stocks are volatile and potentially under-capitalized. Thinks the sector offers the potential for yields to reach double-digit levels. Has a preference for well-run, attractively valued stocks that can deliver through the soft cycle. These include Amlin and Lancashire. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 20, 2010 02:10 ET (06:10 GMT)