Argus raised the firm’s price target on W. R. Berkley (WRB) to $62 from $60 and keeps a Buy rating on the shares after its Q3 earnings beat. The company should benefit from continued healthy demand for property/casualty insurance and sticky price hikes, the analyst tells investors in a research note. Argus adds that W. R. Berkley’s ROE in Q3 was 20.0% – well above the results from other P&C insurers.
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