Bowhead Specialty initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of Bowhead Specialty (BOW) with a Buy rating and $39 price target The company’s focus on the casualty excess and surplus market makes it one of the few public insurers still benefitting from meaningful cyclical tailwinds, the analyst tells investors in a research note. The firm sees this continuing given concerns around social inflation. With no liabilities from accident years prior to 2020, Bowhead is free from the reserve distractions, the analyst tells investors in a research note.