Wells Fargo analyst Elyse Greenspan raised the firm’s price target on Arch Capital to $110 from $109 and keeps an Overweight rating on the shares. The firm’s top pick Arch Capital traded up to reflect the good quarter and outlook. Arch saw good growth and margins and did not see any material movement in long-term reserves, says Wells. It also highlighted the middle market exposure it gets with the Allianz deal.
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 ACGL:
- Arch Capital price target raised to $110 from $100 at JMP Securities
- Arch Capital reports Q1 after-tax ops EPS $2.45, consensus $2.10
- ACGL Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Early notable gainers among liquid option names on April 10th
- Arch Capital price target raised to $92 from $88 at JPMorgan