Citizens JMP analyst Matthew Carletti raised the firm’s price target on Skyward Specialty Insurance (SKWD) to $75 from $70 and keeps an Outperform rating on the shares. Skyward Specialty delivered operating EPS of $1.05, exceeding estimates due to stronger underwriting results, lower catastrophe losses, and higher investment income, the analyst tells investors in a research note. The pending acquisition of Apollo is highly consistent with Skyward’s well-diversified, low-volatility portfolio concentrated in niches where it is a market leader, the firm says.
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