Keefe, Bruyette, & Woods Reiterates Outperform on Allied World (AWH)

Keefe, Bruyette, & Woods is out with a research report this morning, where it reiterates its Outperform rating on Allied World Assurance Holdings Ltd. AWH; it has a $67.00 price target on the stock. The analysts said, “Allied released 2009 loss reserve triangles, providing eight years of reserving data, and in our view, the filing confirms our belief that the company has a strongly redundant reserve position. Additionally, we are raising 2010/2011 EPS reflecting the accretive nature of the recent warrant repurchase from CB, and raising our PT to $67 on the impact of the repurchase and increased reserve confidence. We reiterate our Outperform rating.” Allied is a Bermuda-based insurance company that underwrites insurance and reinsurance risks globally, with a focus on specialty lines of business.