W. R. Berkley upgraded to Buy from Neutral at BofA

BofA upgraded W. R. Berkley to Buy from Neutral with a price target of $76, down from $77. The recent selloff in the shares provides an opportunity, the analyst tells investors in a research note. The firm says Berkley has compounded book value per share at a pace greater than most peers and that its concentrated positioning in wholesale and specialty markets augers for continued outperformance.