Roth Capital lowered the firm’s price target on Arch Capital (ACGL) to $110 from $125 and keeps a Buy rating on the shares. The company’s better earnings were chiefly due to much lower than normal catastrophe losses in the reinsurance segment, the analyst tells investors in a research note. Written premium growth came in lower than expected for both the insurance and reinsurance segments, and this trend is likely to continue, the firm added.
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Read More on ACGL:
- Arch Capital resumed with an Outperform at RBC Capital
- Arch Capital price target raised to $110 from $105 at Morgan Stanley
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