Markel price target raised to $1,550 from $1,400 at Truist

Truist analyst Mark Hughes raised the firm’s price target on Markel to $1,550 from $1,400 and keeps a Hold rating on the shares. The company’s Q2 results were “solid” and the firm is boosting its 2024 forecast to $103.13 from $85.60 on marginally lower assumed combined ratios, higher investment income, and higher Ventures earnings, the analyst tells investors in a research note. Truist maintains however that Marker shares are “fairly valued”.