W. R. Berkley price target raised to $70 from $69 at Wells Fargo

Wells Fargo analyst Elyse Greenspan raised the firm’s price target on W. R. Berkley (WRB) to $70 from $69 and keeps an Equal Weight rating on the shares. The firm notes the company reported EPS of $1.01, beating its $1.00 and Street’s 98c due to higher investment income and lower expense ratio, which offset a higher loss ratio and FX. NPW rose 9.9%, essentially at 10%-15% guide with 10.2% in insurance, Wells adds.