RBC Capital raised the firm’s price target on Markel (MKL) to $2,025 from $1,750 and keeps a Sector Perform rating on the shares. The company’s Q4 results showed stability with healthy reserve releases offset by an uptick in the expense ratio, the analyst tells investors in a research note. Markel also launched a review of its business, which should result in some changes, though this is more along the lines of streamlining processes and refocusing on more profitable lines, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MKL: