Axis Capital price target raised to $110 from $90 at Roth MKM

Roth MKM raised the firm’s price target on Axis Capital (AXS) to $110 from $90 and keeps a Buy rating on the shares. The firm notes that while it was early in calling the re-underwriting change to less catastrophe exposed business, but it finally got recognized this year, the analyst tells investors in a research note. Roth adds that while the stock has risen 61% year to date against 27% for the S&P 500, it still trades at a “modest valuation”.