Wunderlich Securities Reiterates HCC Insurance Buy Rating, $34 PT (HCC)

Wunderlich Securities reiterated its HCC Insurance Holdings HCC Buy rating and $34 price target in a research report published today. In the report, Wunderlich Securities states, "We anticipate HCC will report 4Q10 operating EPS of $0.72, compared to $0.70 a year ago. Our FY10 EPS estimate is $2.85 compared to $3.07 for FY09. Our estimates for 4Q10 and FY10 are in line with consensus, but could prove conservative due to any contribution from reserve development or share repurchase." Shares of HCC Insurance Holdings were trading at $31.66 at the time of posting, down 0.75% from last Friday's market close.