Skyward Specialty Insurance price target raised to $47 from $45 at JMP Securities

JMP Securities raised the firm’s price target on Skyward Specialty Insurance to $47 from $45 and keeps an Outperform rating on the shares. The firm came away from management meetings with investors last week with improved confidence in the company’s outlook over both the near and longer term, saying that while most areas of the market remain highly constructive, management expressed confidence about its ability to continue to produce solid growth at attractive margins. Skyward is reducing exposure to certain areas where it does not believe it is being appropriately compensated for the risk, JMP says.