BMO Capital initiated coverage of Axis Capital (AXS) with a Market Perform rating and $93 price target Axis was a top-performing insurance stock in 2024 and there is room for re-rating from a “still material valuation gap” between a revamped Axis versus its specialty-focused peers, as well as potential upside from promising expense initiatives, the analyst tells investors in a research note. However, BMO’s caution on the direction of pricing and its ability to sustain growth/its improved loss ratio tempers its bullishness for the shares.
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Read More on AXS:
- Axis Capital price target raised to $110 from $108 at Keefe Bruyette
- Axis Capital Aligns Strategy with Enstar Agreement
- Axis Capital, Enstar Group enter loss portfolio transfer reinsurance agreement
- Axis Capital price target raised to $110 from $90 at Roth MKM
- Axis Capital upgraded to Equal Weight from Underweight at Wells Fargo
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