Wells Fargo analyst Elyse Greenspan upgraded Ryan Specialty Group to Overweight from Equal Weight with a price target of $45, up from $41. The analyst views Ryan as a way to play a strong specialty/wholesale market in 2023. Business is continuing to leave the standard market and go to the excess and surplus market, and property insurance prices are rising following Hurricane Ian, Greenspan tells investors in a research note. Due to RYAN’s concentration in the E&S market and in property business "it should have some tailwinds to its organic growth," says the analyst.
Published first on TheFly
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