Selective Insurance price target raised to $102 from $96 at BofA

BofA analyst Grace Carter raised the firm’s price target on Selective Insurance (SIGI) to $102 from $96 and keeps an Underperform rating on the shares following the company’s Q3 report. The firm’s EPS forecasts “modestly rise” on higher investment income, but the firm still expects the stock will “struggle to regain its historical premium in the near term due to recent reserving overhang,” the analyst tells investors.