Skyward Specialty Insurance initiated with a Strong Buy at Raymond James

Raymond James analyst C. Gregory Peters initiated coverage of Skyward Specialty Insurance with a Strong Buy rating and $22 price target. The Strong Buy rating reflects the firm’s outlook for strong premium growth, improving ROEs, and the stock’s valuation, the analyst tells investors in a research note. Its management has implemented growth initiatives including entering new markets such as transactional E&S and Healthcare Professional Liability, growing inorganically through acquisitions of books-of-business, and increasing headcount, and has taken actions to improve underwriting results through exiting underperforming lines of business and strengthening the company’s reserve position, Raymond James says.