Lemonade initiated with a Buy at Truist

Truist analyst Arvind Ramnani initiated coverage of Lemonade (LMND) with a Buy rating and $98 price target Lemonade’s digital-first approach to the insurance industry provides the company with significant structural advantages such as a lower overall cost base relative to traditional insurers, the analyst tells investors in a research note. Lemonade leverages AI, data, and digital tools across entire business, including customer service, claims, processing, and underwriting decisions, which helps to reduce costs and biases, Truist says.