Markel initiated with a Buy at Jefferies

Jefferies initiated coverage of Markel with a Buy rating and $1,750 price target. The company has the ability to improve or maintain returns through operating leverage, premium mix shift and net interest income, the analyst tells investors in a research note. The firm says Markel has a long history of stable underwriting, prudent growth during the cycle, capital return opportunities and diversified platforms to opportunistically grow.