W. R. Berkley price target raised to $66 from $60 at BMO Capital

BMO Capital raised the firm’s price target on W. R. Berkley (WRB) to $66 from $60 and keeps a Market Perform rating on the shares. The firm cites the company’s announcement that Mitsui Sumitomo, MSI, agreed to purchase 15% of its shares, also noting that this could act as an overhang for WR Berkley “reserves bears” given MSI could take larger or a full stake in the coming years/decades.