Morgan Stanley analyst Bob Huang initiated coverage of W. R. Berkley (WRB) with an Equal Weight rating and $65 price target The firm says a supportive pricing and macro environment is likely to persist for 2025 and beyond for the excess and surplus market, providing a tailwind for property and casualty companies that can demonstrate underwriting discipline and pricing power. The analyst prefers Kinsale, Ryan Specialty, and Brown & Brown in the group. Morgan Stanley expects pricing to remain supportive of growth in the excess and surplus market.
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- W. R. Berkley upgraded to Buy from Neutral at Goldman Sachs
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