Kinsale Capital Group price target raised to $245 from $230 at BMO Capital

BMO Capital analyst Michael Zaremski raised the firm’s price target on Kinsale Capital Group to $245 from $230 but keeps an Underperform rating on the shares. The company’s lower-than-peer expense ratio is multi-faceted and serves as its "special sauce", allowing the company to pass along some cost savings to its customers and in turn, grow much faster than peers, the analyst tells investors in a research note. The firm adds however that it remains uncomfortable justifying the stock’s "richly priced valuation".