W. R. Berkley price target raised to $81 from $71 at BMO Capital

BMO Capital raised the firm’s price target on W. R. Berkley to $81 from $71 and keeps a Market Perform rating on the shares. The firm is adjusting its model to reflect the company’s stronger-than-expected premium growth and higher investment income while rolling out its target price forward to a 2025 basis, the analyst tells investors in a research note. W. R. Berkley’s expense ratio improvement began well before top-line growth reached double-digit levels, which gives BMO comfort that the recent improvement won’t be given back, the firm added.