Wunderlich Securities Reports Excellent 2Q11 On AmTrust

According to Wunderlich Securities, AmTrust AFSI reported excellent fundamentals for 2Q11. Wunderlich said that AmTrust Financial Services (AFSI) reported 2Q11 results of $0.83 compared to $0.58 a year ago. "Our price target of $27 reflects a P/E ratio of 10.0 times 2011 estimated operating EPS of $2.70 and is a discount to peers which trade at 14.8 times 2011 estimated EPS. We believe our $27 price target is supported by double-digit top-line growth and a 2011 estimated ROE of 20.3%. Our estimates are under review." AmTrust closed yesterday at $23.70.