HCI Group price target raised to $190 from $155 at Truist

Truist raised the firm’s price target on HCI Group (HCI) to $190 from $155 and keeps a Buy rating on the shares after its Q1 earnings beat. If HCI progresses in its strategy to spin off its Exzeo subsidiary, then the quarter of total company earnings represented by Exzeo could be valued at a higher multiple, presumably more than sufficient to offset any impacts to legacy HCI shares, the analyst tells investors in a research note.