W. R. Berkley price target lowered to $72 from $73 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on W. R. Berkley (WRB) to $72 from $73 and keeps an Equal Weight rating on the shares. The firm adjusted target s in the property and casualty insurance group as part of a Q1 earnings preview. The sector’s solid underwriting will be offset by continued pricing softening, the analyst tells investors in a research note. Morgan Stanley remains “generally negative” on personal lines and says reinsurers “should maintain stability.”