TD Cowen downgraded W. R. Berkley (WRB) to Sell from Hold with a price target of $55, down from $77. The firm’s analysis indicates W. R. Berkley trades at a premium relative to its current fundamentals. It sees limited share upside potential as the company’s earnings growth slows and reserve risks rise. Softer premium growth is also likely to add to W. R. Berkley’s valuation pressure, the analyst tells investors in a research note.
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Read More on WRB:
- W. R. Berkley downgraded to Sell from Hold at TD Cowen
- W. R. Berkley price target lowered to $76 from $78 at Cantor Fitzgerald
- W. R. Berkley price target raised to $69 from $67 at Mizuho
- W. R. Berkley price target raised to $68 from $66 at Wells Fargo
- W. R. Berkley increases share repurchase authorization to 25M shares