Truist raised the firm’s price target on Palomar (PLMR) to $178 from $150 and keeps a Buy rating on the shares. The Excess & Surplus data from a handful of large states is highly correlated with Palomar’s results in its PESIC E&S operation, and the premium growth from these states positions the company to meet or exceed the Street mean outlook for 21% expansion overall, the analyst tells investors in a research note.
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