Janney starts Markel at Buy with $1,550 fair value estimate

As previously reported, Janney Montgomery Scott analyst Robert Farnam initiated coverage of Markel with a Buy rating and $1,550 fair value estimate. Markel’s principal business is providing specialty insurance products to "a variety of niche markets that are largely ignored or overlooked by other insurers," said Farnam. The company’s focus on niche markets and flexibility to offer products on both an admitted basis and an excess & surplus lines basis, "give it an edge on many competitors," said the analyst, who projects EPS to increase from $65.00 in 2022 to $80.00 in 2023 and $90.00 in 2024.