As previously reported, Piper Sandler downgraded ProAssurance (PRA) to Neutral from Overweight with a $18 price target The firm believes the stock is no longer as undervalued as it once was based on its current and forward ROE. Piper continues to be optimistic about the company’s return to profitability but finds it difficult to identify any catalysts that would cause it to improve drastically from here. It also believes the forward ROE will likely remain about or below 5% for the foreseeable future, which suggests the stock should trade below its book value.
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Read More on PRA:
- ProAssurance downgraded to Neutral from Overweight at Piper Sandler
- ProAssurance Corporation Reports Strong Q3 2024 Earnings
- ProAssurance Reports Strong Q3 2024 with $16.4M Income
- ProAssurance reports Q3 operating EPS 34c, consensus 14c
- PRA Earnings Report this Week: Is It a Buy, Ahead of Earnings?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
