Validus Holdings (VR) stock was upgraded today by Stifel Nicolaus from a former Hold rating to a Buy rating. The price target that Stifel Nicolaus has on the company is set to $40 dollars noting the company is positioned to take advantage of improving market conditions.
Shares of VR are currently trading above its 50 & 200 day moving averages with resistance located at the $33.62 price level. VR is currently trading with a yearly gain overall for 2011. Recent earnings for the company were down $1.71 per share. VR has a market cap of about $3,194,000,000 and 98,289,000 shares outstanding.
Validus Holdings, Ltd. (VR) was incorporated under the laws of Bermuda on October 19, 2005. The company seeks to be established as a leader in the global insurance and reinsurance markets. Their principal operating objective is to use capital efficiently by underwriting primarily short-tail insurance and reinsurance contracts with superior risk and return characteristics.
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