As previously reported, BMO Capital downgraded Kinsale Capital to Market Perform from Outperform with a price target of $544, up from $434. After the stock’s 53% year-to-date rally, the firm estimates that current buyside expectations are factoring in more meaningful “beat & raises,” closer to the magnitude to what investors received in 2022 and 2023, though it believes Kinsale can sustainably grow its EPS by about 20%.
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