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Fly News Breaks for May 26, 2016
AXS
May 26, 2016 | 09:06 EDT
As previously reported, Janney Capital downgraded AXIS Capital to Neutral from Buy, saying it struggles to see near-term catalysts for the stock to appreciate, other than book value growth. Analyst Ryan Byrnes said he is surprised that AXIS management has not been more aggressive in buying back stock after the deal with PartnerRe (PRE) fell through and believes the stock trading around book value, where it currently is, seems appropriate.
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