Arch Capital price target lowered to $102 from $105 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on Arch Capital (ACGL) to $102 from $105 and keeps a Market Perform rating on the shares. Near-term upside is expected to be limited by sustained property catastrophe reinsurance pricing softness, slowing primary insurance premium growth, and declining mortgage segment profitability, the analyst tells investors in a research note.