Skyward Specialty Insurance downgraded to Hold from Buy at Jefferies

Jefferies analyst Andrew Andersen downgraded Skyward Specialty Insurance (SKWD) to Hold from Buy with a price target of $59, down from $62. Tariffs are a “manageable earnings risk for the well-capitalized and defensive” property and casualty group, the analyst tells investors in a research note. The firm cites valuation for the downgrade of Skyward. Although the excess and surplus market remains largely favorable, the growth gap will narrow versus the traditional market in 2025 and beyond following several very strong years, the analyst tells investors in a research note.