J.P. Morgan Updates ACE 1Q Loss Estimates

J.P. Morgan has reported on ACE Limited's ACE first quarter net loss estimates following multiple natural disasters. In the report J.P. Morgan writes, "Additionally, the company anticipates 1Q to be impacted by Japanese earthquake losses in the range of $200-250 million. As a result, we are lowering our 1Q and full-year 2011operating EPS estimate by $0.99 and $0.99 to $0.77 and $6.06, respectively. Our new EPS estimates reflect $210 million of New Zealand/Australia/U.S. losses, Japan quake losses of $250 million, and assume property reinsurance pricing does not improve." ACE has an Overweight Rating and a $69.00 Price Target. ACE closed at $63.19 a share yesterday.