Keefe Bruyette raised the firm’s price target on Palomar (PLMR) to $136 from $120 and keeps an Outperform rating on the shares. The firm cites its “very positive” two days meeting investors with the company’s CFO Chris Uchida for the target increase. Keefe assumes faster gross and net written premium growth partially offset by higher core loss ratios for Palomar. Steadily retaining more of its gross premiums will boost Palomar’s shares over the next 12 months, the analyst tells investors in a research note.
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Read More on PLMR:
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