UBS analyst Brian Meredith raised the firm’s price target on Arch Capital to $79 from $66 and keeps a Buy rating on the shares. Arch Capital is well positioned to take advantage of the favorable property insurance and reinsurance pricing environment with ample excess capital and room to increase its PMLs and drive both top line growth and margin improvement coming out of January 1 renewals, the analyst tells investors in a research note. UBS also sees opportunities for Arch to grow in specialty lines and through its Lloyd’s operations.
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