RBC Capital lowered the firm’s price target on Accelerant (ARX) to $18 from $29 and keeps an Outperform rating on the shares. The firm is updating its model after Q3 results reflecting, in part, a deterioration in insurance intermediary multiples, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARX:
- Accelerant price target lowered to $18 from $26 at Morgan Stanley
- Accelerant price target lowered to $18 from $25 at Piper Sandler
- Accelerant upgraded to Buy from Neutral at Goldman Sachs
- Mixed Sentiment on Accelerant Holdings: Hold Rating Amid Growth and Structural Challenges
- Accelerant price target lowered to $21 from $33 at Raymond James