Raymond James lowered the firm’s price target on Accelerant (ARX) to $21 from $33 and keeps an Outperform rating on the shares.The firm continues to view the future success of Accelerant’s risk exchange as dependent on attracting new, high-quality underwriters, the gross loss ratio performance of the pool, and increasing the participation of unaffiliated third-party risk capital partners, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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 partners with AF Specialty to boost risk exchange capacity
- Accelerant price target lowered to $22.50 from $34 at BMO Capital
- Accelerant Holdings Class A: Strategic Shift and Strong Performance Justify Buy Rating
- Accelerant Holdings Class A: Attractive Valuation Amid Shifting Investment Thesis and Partnership Diversification
- Accelerant Holdings Reports Strong Q2 Growth Amid FX Concerns