Oppenheimer views Lemonade story as ‘largely unchanged’ post Q2 report

Oppenheimer says Lemonade’s (LMND) investment story is “largely unchanged” following the Q2 report despite the company’s move to cede less premium to reinsurance partners. Lemonade is seeing strong growth from car and Europe and is progressing toward profitability, the analyst tells investors in a research note. The firm reduced EBITDA estimates but says the company’s loss ratios continue to improve. Opco keeps a Perform rating on the shares. The stock in afternoon trading is up 28%, or $10.52, to $47.51.