Argus raised the firm’s price target on W. R. Berkley to $87 from $76 and keeps a Buy rating on the shares. The company stands to benefit from continued healthy demand for property/casualty insurance, the analyst tells investors in a research note. The firm adds that low interest rates have hurt the company’s investment income in recent years, but the Fed rate hikes should benefit its fixed-income portfolio as maturing bonds and new insurance premiums are invested at higher rates.
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