Kemper price target lowered to $35 from $50 at Piper Sandler

Piper Sandler analyst Paul Newsome lowered the firm’s price target on Kemper (KMPR) to $35 from $50 and keeps an Underweight rating on the shares following quarterly results. While the personal lines market is increasingly competitive, Kemper seems to be struggling more than others, the firm says. Further, Kemper seems to be having trouble in commercial auto where there appears to be a wide range of peer results, Piper notes.