Arch Capital price target raised to $119 from $109 at BofA

BofA raised the firm’s price target on Arch Capital to $119 from $109 and keeps a Buy rating on the shares. The firm took its “already above consensus EPS forecast higher” as it better interpolates the Allianz SME acquisition into its forecasts, the analyst tells investors in a research note. The firm’s new target is based on a 10% premium to the peer 2025 P/E multiple on BofA’s 2026 EPS estimate, but it notes that “historically speaking, Arch traded at an even higher premium to peers.”