Hamilton Insurance price target lowered to $16 from $17 at Wells Fargo

Wells Fargo lowered the firm’s price target on Hamilton Insurance to $16 from $17 and keeps an Equal Weight rating on the shares. Better growth was offset by higher corporate costs, which should persist in 2024 and 2025, the analyst tells investors in a research note. The firm sees the stock range-bound as the overhang of Two Sigma being ~43% of their total investments and higher corporate expenses over the next few years could limit multiple expansion.