Wunderlich Securities Reiterates Buy on Maiden Holdings, Raises PT to $12

Wunderlich Securities reiterated its Buy rating on Maiden Holdings (NASDAQ: MHLD). At the same time, Wunderlich raised its price target on the company's stock from $10 to $12 after a meeting with the company's management.

In a research report published today, Wunderlich states, "We are raising our price target on Buy-rated Maiden Holdings Ltd. (MHLD) from $10.00 to $12.00, or 1.1 times estimated 2011 book value of $11.34... The meetings reinforced our belief that MHLD is an exceptional reinsurer deserving of a superior valuation. We anticipate MHLD will achieve a superior ROE and stable profits compared to the company's more volatile reinsurance peers; thus supporting a superior valuation."

On Thursday, Maiden Holdings added 0.2% to its value to close the day at $9.36.