W. R. Berkley price target lowered to $86 from $88 at RBC Capital

RBC Capital lowered the firm’s price target on W. R. Berkley to $86 from $88 and keeps a Sector Perform rating on the shares. The company’s Q1 results were “respectable”, with solid premium growth continuing, the analyst tells investors in a research note. The firm further cites W. R. Berkley’s combined ratio remaining in the 80s and benefiting from low catastrophe losses and stable core margins.