Everest Group price target lowered to $410 from $420 at Raymond James

Raymond James lowered the firm’s price target on Everest Group (EG) to $410 from $420 and keeps a Strong Buy rating on the shares. The known bad-news is reflected in the firm’s outlook with a base to bear-case scenario, the analyst tells investors in a research note. Raymond James also expects little growth in the consolidated top-line gross written premiums in 2025, 2026, and 2027, which should position the company to pivot to a more aggressive posture with share repurchase activity as underwriting returns normalize and the board takes advantage of the stock’s inexpensive valuation.