ProAssurance price target lowered to $15 from $16 at Piper Sandler

Piper Sandler lowered the firm’s price target on ProAssurance to $15 from $16 and keeps an Overweight rating on the shares following quarterly results. The firm says it is unclear the company will ever deliver an adequate return on equity, but doesn’t think ProAssurance’s balance sheet is so broken that it requires a major reserve charge.