AXIS Capital (AXS) PT Raised to $130 at TD Cowen on 'Solid Growth Prospects'

TD Cowen analyst Andrew Kligerman raised the price target on AXIS Capital (NYSE: AXS) to $130.00 (from $127.00) while maintaining a Buy rating.

The analyst commented: "Management Meeting Reaffirms Sustainable Underwriting, Solid Growth Prospects; We recently hosted a call with CEO Vince Tizzio and CFO Peter Vogt. They reiterated confidence in AXS's underwriting, aided by continued G&A ratio improvement toward 11% in FY2026. Pricing seems adequate in property and casualty despite recent rate declines in property. Insurance should grow mid- to high-single digits. At 8.0x 2026E EPS vs. Specialty peers at 17.6x, AXS's valuation is compelling.

We value AXS on sum-of-parts. AXS trades at 8.0x on 2026E EPS vs. specialty insurance peers at 17.6x and reinsurers at 6.2x. AXS generates three-quarters of estimated 2026E profit from its Insurance (predominantly specialty) segment."

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