Arch Capital price target raised to $90 from $85 at JMP Securities

JMP Securities raised the firm’s price target on Arch Capital to $90 from $85 and keeps an Outperform rating on the shares following better than expected Q2 results. Arch is a best-in-class company and its shares deserve a premium valuation over the long term given the company’s consistently strong operating results and proactive cycle management, the analyst tells investors in a research note.