Kemper price target raised to $86 from $83 at Piper Sandler

Piper Sandler raised the firm’s price target on Kemper (KMPR) to $86 from $83 and keeps an Overweight rating on the shares following quarterly results. The firm notes versus consensus the beat was driven by better-than-expected underwriting results, but it was also helped by non-operating items being better than expected. Piper thinks investors will view it as a beat versus consensus, but probably not as strong as hoped since the firm expected a better underwriting profit margin.