Jefferies upgraded Palomar to Buy from Hold with a price target of $88, up from $78. The analyst cites the company’s “industry leading” gross premium written growth across product lines and inflecting net premium earned growth as reinsurance costs fully load into business for the upgrade. Transformation to low volume results, conservative guidance for 2024 and less exposure on troubled casualty yields impacting peers makes Palomar an attractive opportunity for 2024, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PLMR:
- Palomar Holdings Appoints Thomas Bradley as Class I Director
- Palomar appoints Bradley to board of directors
- Palomar Holdings, Inc. Appoints Thomas Bradley to its Board of Directors
- Palomar price target raised to $88 from $72 at Truist
- Palomar Holdings, Inc. Reports Fourth Quarter & Full Year 2023 Results
