Skyward Specialty Insurance initiated with an Overweight at Piper Sandler

Piper Sandler analyst Paul Newsome initiated coverage of Skyward Specialty Insurance with an Overweight rating and $23 price target. The analyst says Skyward is a "pure play" specialty commercial insurer with improving financial results. The company’s long-run goals are achievable and the stock’s valuation is attractive compared to specialty commercial insurance peers, the analyst tells investors in a research note.