In a report published Friday, Keefe, Bruyette & Woods analyst Vincent DeAugustino upgraded the rating on Mercury General Corporation MCY from Underperform to Market Perform, and reiterated the $46.00 price target.
In the report, Keefe, Bruyette & Woods noted, “We're upgrading the shares of Mercury to Market Perform primarily since our expectations for underperformance have played out, and based on our unchanged $46 target price through our August 15th downgrade, there's now less than 5% expected downside, which is essentially offset by Mercury's dividend on a total return outlook basis.”
Mercury General Corporation closed on Thursday at $48.38.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorUpgradesAnalyst RatingsBruyette & WoodsFinancialsKeefeProperty & Casualty InsuranceVincent DeAugustino
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in