Axis Capital price target raised to $119 from $116 at Jefferies

Jefferies raised the firm’s price target on Axis Capital (AXS) to $119 from $116 and keeps a Buy rating on the shares. Tariffs are a “manageable earnings risk for the well-capitalized and defensive” property and casualty group, the analyst tells investors in a research note. The firm says auto insurers have some ability to re-price quickly, and loss cost inflation concerns are already top of mind for the commercial group, “with any tariff impact likely to spur further discipline.” It sees no notable effect in Q1 and remains most constructive on personal lines.