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Investment Bankers Eye Phoeni

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The board of Phoenix Companies Inc. probably will give company managers there more time to try to increase company earnings.[@@]

John Nadel, a securities analyst at Fox-Pitt, Kelton, New York, makes that prediction in a comment about an investor day gathering that Phoenix, Hartford, held Tuesday.

Several investment bankers attended, but that might be because the bankers are hoping Phoenix will use the proceeds from a proposed securitization of a large closed block of business to make a small, “bolt-on” acquisition, Nadel writes.