Citi initiated coverage of Arch Capital with a Buy rating and $113 price target The firm rolled out coverage in North America insurance, expecting pricing and reinvestment tailwinds to ease but for earnings to remain resilient. Citi sees more opportunities for upside in the shares of underwriters relative to brokers. Its top ideas include Arch Capital (ACGL), Aspen Insurance (AHL), Brown & Brown (BRO), Chubb (CB), Ryan Specialty (RYAN) and RenaissanceRe (RNR).
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Read More on ACGL:
- Cantor rolls out P&C insurance coverage, sees ‘market in transition’
- Arch Capital initiated with a Neutral at Cantor Fitzgerald
- Arch Capital price target raised to $102 from $101 at Keefe Bruyette
- Arch Capital price target lowered to $114 from $122 at TD Cowen
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