Wunderlich Securities Reports Tower Group Rebuilding Momentum

According to Wunderlich Securities, Tower Group TWGP is rebuilding momentum. Wunderlich Securities reported that on April 5-6, 2011, it hosted CEO Michael Lee and CFO Bill Hitselberger of Tower Group on a marketing trip. “We believe the company's strategy will prove successful in driving the stock to recover TWGP's earlier valuations as the company meets or exceeds investor expectations. TWGP management is optimistic about the pricing outlook after high catastrophic activity in 1Q11 for reinsurance and primary business. In addition, the company has been aggressively repurchasing its shares and continues to look to deploy capital for accretive acquisitions. We reiterate our Buy rating and $32 price target.” Tower Group closed yesterday at $22.98.