S&P Maintains its BUY Rating on Transatlantic Holdings

October 12 00:00 2011

NEW YORK, October12 (RainbowNewsLine.com) – Analyst Cathy Seifert of S&P Equity Research reiterates her BUY rating on the shares of Transatlantic Holdings (NYSE: TRH). The target price is set to $58.

Analyst Cathy Seifert, in a research note published yesterday mentions that TRH has declared to sign another confidential agreement with the fourth anonymous suitor. The other parties to the arrangements includes Validus Re (NYSE: VR), a unit of Berkshire Hathaway (NYSE: BRK.B), and an unnamed third party. The analyst believes that the shares are undervalued when compared to their historical values, and see such developments to go in favor of TRH.  The $58 target price assumes the share is to trade below the stated book value but approximate to peers group average based on forward price to book value basis.