BMO Capital analyst Michael Zaremski raised the firm’s price target on Lemonade to $9 from $8 but keeps an Underperform rating on the shares. The firm warns that while the company’s “profitability light at the end of the tunnel” does not appear imminent, shares remain heavily shorted at about 32% of float, and its target price now accounts for a potential sale to solve Lemonade’s long-term capital situation.
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