Kinsale Capital price target lowered to $370 from $400 at Compass Point

Compass Point lowered the firm’s price target on Kinsale Capital to $370 from $400 and keeps a Neutral rating on the shares. The CEO is quoted by the firm as having stated: “…we believe the longer-term growth rate for Kinsale will moderate to the 10% to 20% range as market competition returns to normal in the years ahead.” The firm believes that after three quarters of offering similar comments, and after Q3 results, “the market listened and the stock has undergone a valuation correction,” the analyst tells investors.