Keefe, Bruyette & Woods Assumes Navigators Group (NAVG) at Underperform

Keefe, Bruyette & Woods assumes coverage on Navigators Group (NASDAQ: NAVG) with a Underperform rating and a price target of $56.00.

Analyst Chris Campbell assumes coverage Arash Soleimani (prior recommendation was Market Perform with a $56.00 PT). The analyst believes the valuation is high at 124% price-to-book and suspect the company will face pressure from increased D&O litigation coupled with weak pricing trends in the US which ought to result in sustained US professional liability underwriting losses.

For an analyst ratings summary and ratings history on Navigators Group click here. For more ratings news on Navigators Group click here.

Shares of Navigators Group closed at $50.50 yesterday.

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