UPDATE: Sterne Agee Downgrades Alterra Capital Holdings to Neutral, Reiterates $29 PT
Posted on January 18, 2013 at 11:58 AM EST
In a report published Friday, Sterne Agee Group downgraded its rating on Alterra Capital Holdings Ltd. (NASDAQ: ALTE ) from Buy to Neutral, and reiterated its $29.00 price target. Sterne Agee noted, “We are downgrading ALTE to Neutral from Buy given the previously announced acquisition of Alterra by Markel (MKL,