W. R. Berkley price target lowered to $73 from $85 at Evercore ISI

Evercore ISI analyst David Motemaden lowered the firm’s price target on W. R. Berkley to $73 from $85 and keeps an Outperform rating on the shares. The firm has lowered targets across the commercial lines insurers to reflect lower P/Es given the decelerating pricing environment "at a time when we are incrementally more negative on the loss cost environment," the analyst tells investors in a preview note for the P&C insurer space.