Arch Capital initiated with Outperform, named Top Pick at TD Cowen

TD Cowen initiated coverage of Arch Capital with an Outperform rating and $96 price target. The firm has also named the stock its Top Pick as part of a broader research note on P&C Insurance sector. The company’s specialty focus across businesses and best in-class risk management provide for compelling risk-adjusted double-digit top line growth, the analyst tells investors in a research note. Arch Capital also has a history of successfully allocating capital within and among its segments to outperform its peers, with solid results even in weaker cycles, the firm added.