Amerisafe price target raised to $54 from $48 at Truist

Truist analyst Mark Hughes raised the firm’s price target on Amerisafe (AMSF) to $54 from $48 and keeps a Hold rating on the shares after its Q3 results. The firm is boosting its FY24 EPS view by 10c to $2.45 to reflect the upside in the quarter as well as its increased assumptions for premium growth and favorable reserve development, the analyst tells investors in a research note. Truist adds however that the stock is fairly valued in light of the company’s improved, albeit still moderate, near-term topline growth prospects.