Wunderlich Securities Has $31 Target On Delphi Financial (DFG)

Wunderlich Securities wrote a research report this morning on Delphi Financial DFG and was impressed with the earnings report. As a result, Wunderlich is reiterating its $31 price target and Buy rating. In the report, Wunderlich writes, "...Delphi Financial Group (DFG) announced operating EPS for 2Q10 of $0.83 compared to $1.09 a year ago. The results were better than our estimate of $0.82 and the Street estimate of $0.81. Comparisons to the year-ago quarter were difficult due to particularly strong earnings from the recovery of DFG’s alternative investments. We believe 2Q10 results benefited from the strong premium growth from DFG’s assumed workers' compensation business. We are maintaining our estimates for DFG at $3.45 for 2010 and $3.85 for 2011 in part due to the expected success of the assumed workers' compensation business. We maintain our Buy rating and $31 price target." Shares of Delphi are down 26 cents to $25.23.