Old Republic price target lowered to $41 from $42 at Piper Sandler

Piper Sandler analyst Paul Newsome lowered the firm’s price target on Old Republic (ORI) to $41 from $42 and keeps an Overweight rating on the shares following quarterly results. The firm says that results were generally close to what it expected. Despite the environment for title being unfavorable, Piper is encouraged by management’s commentary on the competitive environment in its specialty business. Management does not see as much softness in property as some of its peers.