Wunderlich Has Buy Rating On Tower Group (TWGP)

Wunderlich Securities has a Buy rating and a $32 price target on shares of Tower Group, Inc. TWGP. In a note sent to clients, Wunderlich writes, "We recently met with Tower Group, Inc.'s (TWGP) Chairman, CEO and President Michael Lee and CFO William Hitselberger. Mr. Lee spoke confidently regarding the growth TWGP is expected to derive from the recent acquisition of OneBeacon's (OB) personal insurance operation. Mr. Lee anticipates TWGP will benefit from the positive pricing trends in personal lines. In addition, TWGP is expected to leverage the unique structure of two of the acquired companies. Mr. Hitselberger's focus is on managing the low interest rate environment. We reiterate our Buy rating and $32 price target on TWGP shares." Shares of TWGP lost 3 cents yesterday to close at $25.72.