Arch Capital price target raised to $120 from $110 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Arch Capital to $120 from $110 and keeps a Buy rating on the shares after meeting with management. The firm left reassured that Arch remains well positioned to sustain its outperformance, even as the likelihood increases that we might be past the peak of the property reinsurance cycle. Arch Capital has a long-term track record of growing into hardening markets and shrinking when pricing is no longer adequate for the risk, the analyst tells investors in a research note.