AMERISAFE (AMSF) PT Lowered to $60 at Citizens on Weaker Book Value Outlook

Citizens analyst Matthew Carletti lowered the price target on AMERISAFE (NASDAQ: AMSF) to $60.00 (from $65.00) while maintaining a Market Outperform rating.

The analyst commented, "We expect 3Q25 results to be highlighted by lighter-than-typical catastrophe losses, modest MTM book value tailwinds, and potential for continued issues around casualty loss reserves, but believe investor focus will be zeroed in on the pricing environment as weakness in property has spooked the market more broadly..."

"We estimate an average book value movement in 3Q25 for our coverage universe of +6.0%...due to M2M gains and strong earnings stemming from low cat losses) at the better end and Employers (EIG, MP) (+2.8% est.) and Amerisafe (AMSF, MO, $60 PT) (+1.1% est.) at the worse end."

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