Palomar price target raised to $168 from $145 at Jefferies

Jefferies analyst Andrew Andersen raised the firm’s price target on Palomar (PLMR) to $168 from $145 and keeps a Buy rating on the shares. Tariffs are a “manageable earnings risk for the well-capitalized and defensive” property and casualty group, the analyst tells investors in a research note. The firm says auto insurers have some ability to re-price quickly, and loss cost inflation concerns are already top of mind for the commercial group, “with any tariff impact likely to spur further discipline.” It sees no notable effect in Q1 and remains most constructive on personal lines.