Wunderlich Securities Provides Color on Axis Capital Holdings

Wunderlich Securities provided color on Axis Capital Holdings AXS. In a research report published today, Wunderlich reported on the company's losses due to natural disasters in the U.S. and New Zealand. In the report, Wunderlich states, “AXIS Capital Holdings (AXS) joins a long list of companies reporting unusual 2Q11 losses from severe weather and earthquakes. On July 14, 2011, AXS announced after-tax losses of $90-$105 million from New Zealand earthquake after shocks and severe weather in the U.S. In addition, AXS reported an additional net $20 million from 1Q11 catastrophes.” At the moment, Wunderlich has a Buy rating and a price target of $45 placed on the company's stock. On Thursday, AXS added 0.65% to its value to end the day at $31.