Wunderlich Securities Reiterates AXIS Capital Holdings Buy, Raises PT To $45 (AXS)

Wunderlich Securities reiterated its AXIS Capital Holdings AXS Buy rating and raised Axis Capital Holdings' price target to $45 from $42 in a research report published today. In the report, Wunderlich Securities states, "We believe AXIS's recent results demonstrate the company's ability to outperform expectations even as market conditions remain challenged. We are increasing our 2011 EPS estimate to $4.90 from $4.65. In addition, we are raising our price target to $45 from $42. Our revised price target represents 1.0 times our 2011 book value estimate of $43.35 per share." Shares of AXIS Capital Holdings closed Thursday at $36.83, down 0.19% from Wednesday's market close.