Morgan Stanley upgraded Slide Insurance (SLDE) to Overweight from Equal Weight with an unchanged price target of $18. The shares are down 35% quarter-to-date despite few changes to the company’s fundamentals, the analyst tells investors in a research note. The firm believes limited weather-related catastrophes should support Slide’s earnings growth, while its term growth and margin remain durable longer term. The stock “is cheap” and Slide’s earnings will be strong, contends Morgan Stanley.
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