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Aspen Insurance initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of Aspen Insurance (AHL) with an Equal Weight rating and $37 price target Aspen is a Bermuda-based specialty insurer/reinsurer that has “rejiggered its mix significantly” since it was last public, the analyst tells investors in a research note. With shares trading at 1.3-times book value, Wells thinks they are fairly valued.

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