BMO Capital raised the firm’s price target on Kinsale Capital (KNSL) to $461 from $445 but keeps a Market Perform rating on the shares. The company’s “Special Sauce”, or lower expense ratio, has become even more powerful in recent years due to reinsurance protection arbitrage, the analyst tells investors in a research note. BMO adds however that in the near term, the firm remains wary of a slowing pace of beat and raise quarters driven by less growth opportunities following a material deceleration in E&S property pricing.
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- Kinsale Capital price target lowered to $500 from $530 at Truist
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- Kinsale Capital upgraded to Outperform from Peer Perform at Wolfe Research
- Kinsale Capital board authorizes repurchase of up to $100M of common stock
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
