BofA starts Kinsale Capital at Buy with ‘Street-high’ $543 target

As previously reported, BofA analyst Joseph Tumillo initiated coverage of Kinsale Capital (KNSL) with a Buy rating and “Street-high” $543 price target The specialty insurance carrier focuses exclusively on the excess and surplus lines, particularly for small-to-medium enterprises, notes the analyst, who adds that Kinsale’s focus on attractive market segments, disciplined underwriting and expense management historically has delivered strong premium growth. The firm believes concerns around slower top-line growth are “overblown,” but provide “an attractive entry point in a compounding business gaining share in a growing market,” the analyst tells investors.