Kinsale Capital price target raised to $525 from $480 at Truist

Truist analyst Mark Hughes raised the firm’s price target on Kinsale Capital (KNSL) to $525 from $480 and keeps a Buy rating on the shares. The firm is assuming 12% topline growth and steady underlying profitability for the company, along with sustained reserve gains of around 300 bps of net earned premiums, the analyst tells investors in a research note. Kinsale should also see an incremental tailwind from rising investment income, Truist states.