tiprankstipranks
Trending News
More News >

Skyward Specialty Insurance upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Skyward Specialty Insurance (SKWD) to Overweight from Equal Weight with a price target of $63, up from $53. After analyzing reserving trends to evaluate the strength of balance sheets in the non-life insurance group, the firm has a more constructive view on reserves for the industry following a year where the industry marked up liabilities. The review gave Barclays greater reassurance around Skyward’s reserve risk, particularly in commercial auto, and it expects continued portfolio optimization efforts to reduce underwriting volatility.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue