Skyward Specialty Insurance Group (SKWD) PT Raised to $60 at JMP Securities

JMP Securities analyst Matthew Carletti raised the price target on Skyward Specialty Insurance Group (NASDAQ: SKWD) to $60.00 (from $53.00) while maintaining a Market Outperform rating.

The analyst commented, “We believe pricing strength in excess of loss costs over the past several years, alongside conservative balance sheet management and an average liability duration of three years, has positioned the company well for the current inflationary environment."

Also, "Furthermore, Skyward’s limited exposure to catastrophe risk and sizable businesses in areas that do not classically follow a P&C cycle should result in a more stable stream of earnings versus many peers, in our view.”

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