Keefe, Bruyette & Woods Reiterates Outperform Rating on Arch Capital (ACGL)

Keefe, Bruyette & Woods analyst Meyer Shields reiterated an Outperform rating and $121.00 price target on Arch Capital (NASDAQ: ACGL).

The analyst commented, "ACGL just announced that President and CUO Nicolas Papadopoulo is becoming CEO effective immediately, succeeding Marc Grandisson, who is retiring."

"We view this as a negative surprise for ACGL, since we believe that Mr. Grandisson has earned substantial investor respect. Still, Mr. Papadopoulo's successful leadership of Arch Re and impressive turnaround of the previously-underperforming Insurance segment imply a smooth, culturally-consistent leadership transition."

For an analyst ratings summary and ratings history on Arch Capital click here. For more ratings news on Arch Capital click here.

Shares of Arch Capital closed at $114.40 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Home Depot (HD) call put ratio 1.5 calls to 1 put with a focus on September 330 puts into quarter results
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker