Sterne Agee Maintains Buy on Allied World Assurance Co. Hldgs.

Sterne Agee is out with its report today on Allied World Assurance Co. Hldgs. AWH, maintaining Buy. In a note to clients, Sterne Agee writes, "We believe the AWH/TRH merger provides nearterm financial positives and longer-term strategic benefits that will drive shareholder value over time. However, if the transaction is not completed, AWH would benefit from the $115 mm termination fee. In our view, AWH's valuation is attractive on both a combined or standalone basis." Sterne Agee maintains a $75 PT on AWH. At the time of posting, shares of AWH were trading at $57.35, up 0.21% from Wednesday's close.