Axis Capital price target raised to $88 from $86 at Keefe Bruyette

Keefe Bruyette analyst Meyer Shields raised the firm’s price target on Axis Capital to $88 from $86 and keeps an Outperform rating on the shares following the Q2 report. The analyst thinks Axis Capital’s valuation discount relative to other specialty-focused peers will shrink as it generates “strong and low-volatility” underwriting and investment income in and beyond the second half of 2024.