United Fire Group price target lowered to $22 from $26 at Piper Sandler

Piper Sandler lowered the firm’s price target on United Fire Group to $22 from $26 and keeps an Underweight rating on the shares. The Q2 reports are going to be a mixed quarter for many insurers, the analyst tells investors in a research note. The sector needs to get through what may be a number of earnings pre-announcements before the stocks can recover and reflect the “fairly good intermediate-term prospects for the companies,” says the firm.