United Fire Group price target raised to $37 from $35 at Piper Sandler

Piper Sandler analyst Paul Newsome raised the firm’s price target on United Fire Group (UFCS) to $37 from $35 and keeps a Neutral rating on the shares. Discussing the sector, the firm believes fourth quarter results will be generally mixed. Piper expects favorable weather will mean that most insurers should have strong or even stronger-than-expected results, but pricing commentary will likely be more pessimistic. A key sign will be if insurance companies continue to believe they are getting rate in excess of claims inflation, it adds.