Jefferies analyst Yaron Kinar lowered the firm’s price target on Lemonade to $11.50 from $13 and keeps an Underperform rating on the shares as part of the firm’s P&C Insurance and Insurtech space preview for Q1. The firm expects Q1 industry catastrophe losses to be "in-line to slightly above" the seasonal 1Q average, or in the $10B range.
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