Arch Capital price target raised to $115 from $110 at JMP Securities

JMP Securities raised the firm’s price target on Arch Capital to $115 from $110 and keeps an Outperform rating on the shares following the better than expected Q2 results. Arch is a best-in-class company and the shares deserve a premium valuation given the company’s consistently strong operating results and proactive cycle management, the analyst tells investors in a research note.