Fidelis Insurance initiated with an Equal Weight at Barclays

Barclays initiated coverage of Fidelis Insurance with an Equal Weight rating and $15 price target. The stock’s valuation discount exemplifies less market acceptance of its dual structure, the analyst tells investors in a research note. While the stock’s valuation is compelling, the company’s 13-15% return on equity target “appears visionary compared to its historical track record, says the firm.