American Integrity Insurance price target raised to $22 from $20 at Piper Sandler

Piper Sandler raised the firm’s price target on American Integrity Insurance (AII) to $22 from $20 and keeps an Overweight rating on the shares following quarterly results. The firm acknowledges that there was some noise related to reporting location of one-time IPO expenses that affected the combined ratio, but it thinks the underlying results were still strong and note that the company beat on an absolute bottom line dollar basis versus expectations.