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Fly News Breaks for June 20, 2018
EMCI
Jun 20, 2018 | 09:23 EDT
Sandler O'Neill analyst Paul Newsome upgraded EMC Insurance to Buy from Hold and raised his price target for the shares to $31 from $28. The analyst cites valuation for the upgrade.The stock is one of the few insurers trading around book value, Newsome tells investors in a research note. EMC also provides a slightly higher than average dividend yield of 3.2% versus the peer group average of 2.0%, the analyst adds.
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