Arch Capital price target raised to $78 from $77 at Barclays

Barclays analyst Tracy Benguigui raised the firm’s price target on Arch Capital to $78 from $77 and keeps an Overweight rating on the shares. The analyst thinks specialty insurers will outperform standard insurers in Q1 given opportunities afforded from market dislocation. The firm is cautious on "any contrarian" who releases casualty prior year claims development prematurely and sees mixed signals behind the auto path to profitability.