Randy Binner of FBR Capital Markets has
Following Donald Trump’s win, Binner said, on average,
The rally was attributed to the higher rate environment, potential benefit from a lower corporate tax rate and the benefit of deregulation.
Insurance Rally Specifics
“In general, our analysis indicates that
On Metlife, Binner said his analysis shows shares efficiently discounting spread, tax and deregulation factors post-election, while the upcoming spin catalyst and associated buyback are now better priced into shares.
On Hartford, the post-election rally has put shares close to FBR’s $47 price target, while Maiden shares jumped 17 percent despite seen only marginally benefiting from higher rates.
“Given its Bermuda domicile, the name does not see much potential tax benefit, nor a benefit from deregulation. MHLD is trading at 92 percent of its five-year min/max P/E valuation,” Binner continued.
The analyst said the following stocks have under discounted the benefit of the post-election environment:
Further, Binner raised the price targets of the following companies.
|Oct 2016||Credit Suisse||Initiates Coverage on||Underperform|
|Sep 2016||Wells Fargo||Assumes||Market Perform|
|Aug 2016||SunTrust Robinson Humphrey||Maintains||Neutral|
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