Wunderlich Securities Reiterates Meadowbrook Insurance Buy, $12 PT

Wunderlich Securities reiterated its Meadowbrook Insurance MIG Buy rating and $12 price target in a research report published today. In the report, Wunderlich Securities states, "Pricing trends in the workers compensation market are positive, especially in the California and Florida markets. The company experienced elevated frequency, leading to modest adverse reserve development in 2Q11. However, management has implemented rate increases and underwriting discipline." Shares of Meadowbrook Insurance were trading at $9.44 at the time of posting, down 0.32% from Monday's market close.