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Palomar initiated with a Hold at Jefferies
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Palomar initiated with a Hold at Jefferies

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

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