Morgan Stanley lowered the firm’s price target on Bowhead Specialty (BOW) to $34 from $37 and keeps an Equal Weight rating on the shares. The firm is updating its price targets on Property & Casualty Insurance stocks under its coverage following Q2 results, the analyst tells investors. Themes across the P&C insurance sector include: increased competition in the personal auto insurance market; cautious optimism over growth opportunities in commercial lines; softened reinsurance pricing through mid-year renewals; and in-line Q2 results delivered by brokers, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BOW:
- Bowhead Specialty price target lowered to $42 from $45 at Keefe Bruyette
- Bowhead Specialty Completes Secondary Offering of Shares
- Trade Desk downgraded, Instacart upgraded: Wall Street’s top analyst calls
- Bowhead Specialty initiated with a Buy at Deutsche Bank
- Bowhead Specialty 2M share Spot Secondary priced at $30.80