Ategrity Specialty price target lowered to $26 from $29 at Wells Fargo

Wells Fargo lowered the firm’s price target on Ategrity Specialty (ASIC) to $26 from $29 and keeps an Overweight rating on the shares. The firm notes the company reported adjusted net income of 41c, beating its 35c and Street’s 31c on better underwriting. Cat losses were low and there was no prior-year development, Wells adds.