Palomar Holdings (PLMR) PT Raised to $195; KBW: 'We Expect Sustained Strong Gross'

Keefe, Bruyette & Woods analyst Meyer Shields raised the price target on Palomar Holdings (NASDAQ: PLMR) to $195.00 (from $145.00) while maintaining an Outperform rating.

The analyst commented: "We maintain our Outperform rating on PLMR’s shares and raise our DCF-based target price to $195 (23.6x our updated 2026E EPS) from $145 following its 1Q25 earnings report and conference call. We raise our 2025E/2026E EPS to $6.75/ $8.25 from $6.50/$8.00, incorporating the 1Q25 outperformance in our estimates and assuming faster premium and NII growth, lower catastrophe losses, and bigger reserve releases, partly offset by higher expense ratios. We expect sustained strong gross – and even stronger net – written and earned premium growth and consistently solid underwriting results to drive ongoing outperformance over the next 12 months."

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