United Fire Group initiated with a Buy at JonesResearch

JonesResearch analyst Jason Weaver initiated coverage of United Fire Group (UFCS) with a Buy rating and $32 price target United Fire is a traditional property and casualty insurance carrier with a growing presence in commercial property and casualty and surety bonds with $3.5B in assets, the analyst tells investors in a research note. The firm sees a “solid pathway” for the company grow earned premiums at an annual rate in the low-teens, solidifying its revenue growth due to its “broad and growing” distribution network of over 1,000 agencies.