Ryan Specialty price target lowered to $44 from $53 at Mizuho

Mizuho lowered the firm’s price target on Ryan Specialty (RYAN) to $44 from $53 and keeps a Neutral rating on the shares. The firm adjusted ratings and targets in the insurance property and casualty group following the recent sector selloff. There is “low disruption threat” to the insurance brokerage names who focus on middle-market and larger accounts from AI, the analyst tells investors in a research note. Mizuho believes disintermediation risk is “geared to mass market personal lines and the smaller end of SME.”