Wunderlich Raises PT on Maiden Holdings to $10 (MHLD)

Wunderlich is out with its report today on Maiden Holdings (NASDAQ: MHLD), raising its price target from $9 to $10.

In a note to clients, Wunderlich writes, "We are raising our price target to $10 from $9 to reflect the company's solid growth trajectory and operating performance. MHLD currently trades at 0.7 times our 2011 estimated book value of $11.23. Our revised price target of $10 reflects 0.9 times 2011 forecasted book value, in line with peers. We believe the valuation is supported by MHLD's excellent
management team, strong growth prospects, and competitive ROE of 10.3% estimated for 2011."

Shares of MHLD closed Thursday at $7.94, up 0.13% from Wednesday's close.