BofA upgraded Neptune Insurance (NP) to Neutral from Underperform with a price target of $23, up from $22.50. With the stock having returned to near-IPO stock price, the firm believes future earnings are supportive of the current valuation, the analyst tells investors. However, concerns remain around future competition and the ultimate outcome of AI disintermediation in the insurance distribution sector remains uncertain, the analyst added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NP:
- Neptune Insurance rises 16.1%
- Neptune Insurance price target lowered to $30 from $35 at Evercore ISI
- Neptune Insurance price target lowered to $30 from $33 at Piper Sandler
- Neptune Insurance upgraded to Outperform from Market Perform at Keefe Bruyette
- Neptune Insurance reports Q4 adjusted EPS 42c vs 31c last year