JPMorgan analyst Pablo Singzon initiated coverage of Neptune Insurance (NP) with a Neutral rating and $25 price target Neptune is the largest private residential flood provider in the U.S. and has a “highly differentiated technology platform and a robust financial profile,” the analyst tells investors in a research note. However, the firm thinks growing outside the more immediate National Flood Insurance Program opportunity will be more difficult and that the stock’s valuation is already getting “significant credit for future growth.”
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Read More on NP:
- Neptune Insurance initiated with an Underperform at Mizuho
- Neptune Insurance initiated with a Market Perform at BMO Capital
- Hold Rating for Neptune Insurance: Balancing Growth Potential and Market Uncertainty
- Neptune Insurance initiated with a Buy at Goldman Sachs
- Hold Rating on Neptune Insurance Holdings Due to Valuation Concerns and NFIP Uncertainties