KBW Maintains Platinum Underwriters Holdings MP Rating And $48 PT

On 11/17/10, Platinum Underwriters Holdings PTP increased its estimated losses from the NZ earthquake by $40.0 mm ($0.97/sh) to a total estimate of $68.5 mm, an increase of 140%, KBW reports. “Based on the announcement, we are lowering 4Q10 and 2010 EPS estimates, but maintain our $48 price target and Market Perform rating,” KBW writes. Platinum Underwriters Holdings currently trades at $44.90.