Raymond James analyst Gregory Peters initiated coverage of Neptune Insurance (NP) with an Outperform rating and $30 price target Neptune is uniquely positioned to benefit from the financial challenges of the National Flood Insurance Program and selectively grow as the leader of the private flood insurance market, supported by its AI-driven underwriting tools and managing general agent model with no insurance risk, the analyst tells investors in a research note. The firm remains cautious of the premium valuation against a backdrop of slowing revenue growth for the broader non-life insurance industry.
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