Piper Sandler raised the firm’s price target on Lemonade (LMND) to $60 from $55 and keeps a Neutral rating on the shares. The firm cites increased interest in AI and this is the name to play for the long-term for that. Piper also points out that this is a growth name, which suggests the potential for a true network effect, and notes profitability has improved. On the flip side, the firm acknowledges there has been increased risk exposure, and there is a reliance on direct-to-consumer in a country slow to adopt DTC for insurance purchasing needs historically.
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 LMND:
- Lemonade rises 8.7%
- Lemonade, Western Digital, CoreWeave, Autodesk, and Thermo Fisher: Insider Sales Shake the Market!
- Lemonade price target raised to $43 from $40 at Morgan Stanley
- Lemonade price target raised to $42 from $23 at BMO Capital
- Cautious Outlook on Lemonade: Sell Rating Due to Overvaluation and Profitability Challenges