RLI Corp. price target raised to $165 from $162 at RBC Capital

RBC Capital raised the firm’s price target on RLI Corp. (RLI) to $165 from $162 and keeps a Sector Perform rating on the shares after its Q3 earnings beat. The company produced a sub-90 combined ratio with highly profitable core underwriting margins and healthy reserve releases while its property segment outperformed with a 70s combined ratio despite a notable loss impact from recent hurricanes, the analyst tells investors in a research note.