Truist raised the firm’s price target on HCI Group to $112 from $96 and keeps a Buy rating on the shares. Looking ahead to the Florida-centric June 1st reinsurance renewal, there is good opportunity for reinsurance costs to be flat-to-down, which would position HCI to benefit from a potentially favorable arbitrage as it takes a year for primary rates to fully reflect updated reinsurance costs, the analyst tells investors in a research note.
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