Skyward Specialty Insurance price target raised to $65 from $60 at Citizens JMP

Citizens JMP raised the firm’s price target on Skyward Specialty Insurance (SKWD) to $65 from $60 and keeps an Outperform rating on the shares. Skyward’s Q1 operating EPS beat consensus estimates primarily driven by a lower-than-projected, accident year ex-catastrophe combined ratio and lower catastrophe losses, partially offset by lower net investment income, the analyst tells investors in a research note. Skyward’s well-diversified, low-volatility portfolio remains underappreciated by the market, the firm argues.