NEW YORK, February 4 (FinanceEnquiry.com) - Analysts at Deutsche Bank Securities reiterate their buy rating on the shares of Validus (NYSE: VR). The 12-month target price is set to $36.
 
In research note published yesterday, the analysts mention that Validu reported operating EPS of $0.21 below the estimate and Street consensus of $0.78 and $0.77, respectively. The difference in the result came from $78mm in reserve additions for potential developments on 2011 catastrophe losses. Moreover, it will come as a surprise to investors, given the company’s press release few weeks ago pre announcing $55.5mm-in Thai flood losses, the analysts say. Typically, peers preannounced 2011 reserve additions along with their Thai flood loss figures and investors mistakenly might see some surprise going into Validus’s earnings release, Deutsche Bank Securities adds.