Keefe Bruyette raised the firm’s price target on Axis Capital (AXS) to $120 from $118 and keeps an Outperform rating on the shares after meeting with management. The firm says the meetings reinforced confidence in the company’s prospects for “steady, profitable” specialty property and casualty premium growth, expense ratio improvement, “low-volatility earnings, and intelligent capital deployment,” which should drive continuing multiple expansion over and beyond the next 12 months.
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Read More on AXS:
- Axis Capital price target raised to $118 from $115 at Keefe Bruyette
- Axis Capital management to meet with Roth MKM
- Axis Capital board approves up to $400M share repurchase program
- Axis Capital price target raised to $115 from $110 at Keefe Bruyette
- AXIS Capital Shines in Record-Breaking Earnings Call
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