Axis Capital price target raised to $127 from $118 at TD Cowen

TD Cowen analyst Andrew Kligerman raised the firm’s price target on Axis Capital (AXS) to $127 from $118 and keeps a Buy rating on the shares. The firm noted management reiterated its confidence in its underwriting and reserve strength, and discussed the company’s new “centralized CUO” underwriting review process and revised long-term incentive compensation.