American Coastal price target lowered to $15 from $16 at Raymond James

Raymond James analyst C. Gregory Peters lowered the firm’s price target on American Coastal (ACIC) to $15 from $16 and keeps an Outperform rating on the shares. The firm expects American Coastal to generate more than 20% of operating ROBEs with underlying combined ratio results in line with management’s 65% target through 2027, partially offset by earnings volatility from potential hurricane-related losses.