Old Republic price target lowered to $42 from $43 at Piper Sandler

Piper Sandler lowered the firm’s price target on Old Republic (ORI) to $42 from $43 and keeps an Overweight rating on the shares following a better than expected result driven mostly by specialty insurance earnings results. Underwriting results were better than Piper expected. Notably, the Specialty combined ratio was below the company’s target of 90%-95% over a full underwriting cycle, it adds.