Ryan Specialty price target lowered to $50 from $55 at Morgan Stanley

Morgan Stanley analyst Bob Huang lowered the firm’s price target on Ryan Specialty (RYAN) to $50 from $55 and keeps an Overweight rating on the shares. The firm adjusted target s in the property and casualty insurance group as part of a Q1 earnings preview. The sector’s solid underwriting will be offset by continued pricing softening, the analyst tells investors in a research note. Morgan Stanley remains “generally negative” on personal lines and says reinsurers “should maintain stability.”