Aspen Insurance boosted to Buy at UBS

Following guidance in which management reiterated its expectation to achieve an operating ROE of 10% for all of 2014, UBS upgrades Aspen Insurance (AHL) to a Buy and bumps the price target to $46 from $40.

CEO Chris O'Kane on the earnings call (transcript): "If I sound more upbeat about the U.S., it’s because I am. Currently, the U.S. teams account for about 35% of our insurance and net earned premiums. We expect this percentage to increase over the next years."

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