Skyward Specialty Insurance price target raised to $70 from $65 at Citizens JMP

Citizens JMP analyst Matthew Carletti raised the firm’s price target on Skyward Specialty Insurance (SKWD) to $70 from $65 and keeps an Outperform rating on the shares. Skyward announced that it will buy Apollo Group Holdings for $555M in cash and stock, which will add a “meaningful” element of fee income to Skyward, and should result in double-digit adjusted operating EPS accretion in the first full year post-closing, which is targeted for 1Q26, the analyst tells investors in a research note. Skyward’s limited exposure to catastrophe risk and sizable businesses in areas that do not classically follow a P&C cycle should result in a more stable stream of earnings versus many peers, the firm adds.