Barclays lowered the firm’s price target on Ryan Specialty (RYAN) to $65 from $70 and keeps an Overweight rating on the shares. The firm reduced organic growth estimates “across the board” for the insurance brokers, saying property and casualty pricing is below expectations. “Persistent signs” of softening across the property and casualty markets along with weaker pricing data “signal a turning point,” the analyst tells investors in a research note.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RYAN:
- Ryan Specialty initiated with a Neutral at Piper Sandler
- Ryan Specialty Group: Balancing Strengths and Challenges in a Competitive Niche
- Ryan Specialty price target raised to $67 from $65 at Morgan Stanley
- Ryan Specialty price target lowered to $66 from $70 at BMO Capital
- Ryan Specialty price target lowered to $63 from $71 at Goldman Sachs