Lemonade price target raised to $15 from $13 at BMO Capital

BMO Capital raised the firm’s price target on Lemonade (LMND) to $15 from $13 and keeps an Underperform rating on the shares. The firm is shifting its valuation methodology to embed a capital raise in outer years, though its higher target price now assumes a less dilutive raise following the recent run-up in the stock price, the analyst tells investors in a research note.