BMO Capital analyst Michael Zaremski upgraded Neptune Insurance (NP) to Outperform from Market Perform with a price target of $20, down from $25. The firm cites valuation for the upgrade with the shares down 26% over the past week on AI-related speculation about future winners versus losers. Neptune is already the heaviest user of AI in the sector, which has been a key part of its growth, the analyst tells investors in a research note.
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