S&P Capital IQ Maintains its BUY Rating on Transatlantic Holdings

October 28 00:00 2011

New York, October 28 (RainbowNewsLine.com) – Analyst Cathy Seifert of S&P Capital IQ reiterates her BUY rating on the shares of Transatlantic Holdings (NYSE: TRH), while reducing her estimates for the company.  The target price has been raised from $58 to $61.

Analyst Cathy Seifert, in a research note published yesterday mentions that the company has reported its Q3 EPS short of the estimate and the consensus due to high costs related to its strategic initiatives, a terminated merger, and Transatlantic Holdings entry into confidentiality agreement with three other suitors. The EPS estimate for 2011 has been reduced from $0.51 to $0.34.