Raymond James lowered the firm’s price target on Accelerant (ARX) to $21 from $33 and keeps an Outperform rating on the shares.The firm continues to view the future success of Accelerant’s risk exchange as dependent on attracting new, high-quality underwriters, the gross loss ratio performance of the pool, and increasing the participation of unaffiliated third-party risk capital partners, the analyst tells investors in a research note.
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