Skyward Specialty Insurance price target raised to $50 from $47 at JMP Securities

JMP Securities raised the firm’s price target on Skyward Specialty Insurance to $50 from $47 and keeps an Outperform rating on the shares. Skyward Specialty reported strong Q2 results, marking another strong growth quarter as the hard market in many specialty and E&S lines shows little sign of weakening and strong growth was again shown in the non-P&C areas of the business, the analyst tells investors in a research note. The firm thinks the well-diversified, low-volatility portfolio may be underappreciated by the market.