UPDATE: Wunderlich Upgrades ProAssurance to Buy

Wunderlich is out with its report today on ProAssurance PRA, upgrading PRA from Hold to Buy. In its report, Wunderlich writes, "We are upgrading ProAssurance Corp. to Buy from Hold and raising our price target. We believe PRA shares are an excellent safe haven during volatile times. In our opinion, investors will place a premium on the fact that the company's professional medical liability insurance business is not sensitive to the economy. In addition, we anticipate PRA's valuation will expand as a result of the company's superior earnings growth." Wunderlich raises its PT from $67 to $80. Shares of PRA closed Friday at $70.54, up 0.79% from Thursday's close.