Jefferies analyst Andrew Anderson initiated coverage of Palomar with a Hold rating and $55 price target. Anderson expects lower gross written premiums growth than the Street as a company focused on growth heavily supported by reinsurance and targeting expansion within the competitive E&S market, the analyst tells investors in a research note. He thinks the stock already reflects growth and risks at ~3.2x P/B ex AOCI, and sees operating ROE near 20% through 2024E.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on PLMR: