Hallmark Financial Services initiated with "outperform"

12/20/06 - William Blair & Co

NEW YORK, December 20 (newratings.com) - Analysts at William Blair & Co initiate coverage of Hallmark Financial Services Inc (HALL) with an "outperform" rating.

In a research note published yesterday, the analysts mention that the company is better positioned to significantly raise underwriting retentions going forward, following the recent equity offering. The analysts believe that Hallmark Financial Services' operating EPS would rise from $1.05 in 2007 to $1.20 in 2008. The company has the ability to witness market share expansion across several of its business segments, William Blair & Co adds.