Skyward Specialty Insurance price target raised to $45 from $42 at JMP Securities

JMP Securities raised the firm’s price target on Skyward Specialty Insurance to $45 from $42 and keeps an Outperform rating on the shares. Skyward Specialty reported strong Q1 results, with the operating EPS beat driven by a better-than-expected accident year ex-cat combined ratio, higher net investment income, and lower-than-expected catastrophe losses, the analyst tells investors in a research note. Skyward has a well-rounded and defensible portfolio of niche product lines that are benefiting from macro tailwinds, the firm says.