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Target $24      6-Nov-09 09:22 am    
Protective Life Corp. (PL: NYSE) By Sterne Agee ($16.02, Nov. 5, 2009)

WE ARE UPGRADING Protective Life (ticker: PL) to Buy from Neutral. After the conference call, we have confirmed our suspicion that forward earnings-per-share estimates are largely unaffected by the items contributing to Protective Life's third-quarter 2009 EPS shortfall. Our $24 price target remains unchanged, based on eight times second-half 2010 run-rate EPS and 85% of fourth-quarter 2009 estimated book value of equity per share.


Sentiment : Strong Buy
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toolwire

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Target $24
toolwire Not rated 6-Nov-09 09:22 am  
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Protective Life Corp. (PL)

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At 4:00PM ET: 17.04 Down 0.44 (2.52%)
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