SiriusPoint resumed with a Buy at B. Riley

B. Riley analyst Timothy D’Agostino resumed coverage of SiriusPoint (SPNT) with a Buy rating and $31 price target which represents 36% potential upside. The company should be close its valuation discount to peers over the next 12 months given its “underwriting approach and discipline.” SiriusPoint continues to shift its underwriting focus to lines that are less volatile and less correlated to property and casualty pricing, the analyst tells investors in a research note.