Wells Fargo lowered the firm’s price target on Accelerant (ARX) to $23 from $28 and keeps an Equal Weight rating on the shares. The firm notes Accelerant traded down 26% as EBITDA guide for Q3 was lower than its estimate and Hadron remains a substantial portion of third-party premium. Third party premium growth ex Hadron was 140% vs 12% in Q1.
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