Deutsche Bank Maintains 'Sell' On W.R. Berkley (WRB), Price Target Raised
Monday, February 06, 2022 1:08 PM



Deutsche Bank (DB) maintained its "sell" rating on W.R. Berkley Corp. (NYSE:WRB), while raising its price target to $31.5 from $30, saying the same underwriting and investment headwinds remain for the stock.

The bank wrote that despite a one-day rally in shares of Berkley following a fourth-quarter earnings beat, the company is still on track for single-digit ROEs.

DB believes that declining favorable development will outweigh any improvement in margins from pricing gains. Investment income is poised to stagnate, the bank added.

Greenwich, Connecticut-based W.R. Berkley operates as commercial lines writers in the property casualty insurance business primarily in the United States.

WRB shares, which have been trading between $27.26 and $36.50 over the past year, is down 0.50% to $36.17.


 

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