Skyward Specialty Insurance price target raised to $53 from $50 at JMP Securities

JMP Securities raised the firm’s price target on Skyward Specialty Insurance (SKWD) to $53 from $50 and keeps an Outperform rating on the shares. Skyward Specialty reported strong Q3 results, and by leveraging technology across all aspects of its business, Skyward is able to enhance risk selection and better manage claims, boosting efficiency and returns, the analyst tells investors in a research note. Pricing strength in excess of loss costs over the past several years, along with conservative balance sheet management and an average liability duration of three years, has positioned the company well for the current inflationary environment, the firm argues.