SiriusPoint initiated with a Buy at B. Riley

B. Riley analyst Randy Binner initiated coverage of SiriusPoint (SPNT) with a Buy rating and $33 price target The firm believes the company’s reserve redundancies, favorable pricing versus loss cost trends in core business lines and expense management will drive 12% return on equity. It believes SiriusPoint has an attractive specialty product and that the market is beginning to recognize the company’s recent turnaround story has unfolded.