Bowhead Specialty price target raised to $35 from $33 at JMP Securities

JMP Securities raised the firm’s price target on Bowhead Specialty (BOW) to $35 from $33 and keeps an Outperform rating on the shares. JMP expects Q4 Insurance company results to be highlighted by catastrophe losses, notably Hurricane Milton, ongoing concerns around casualty loss reserves, and negative mark-to-market impacts on investment portfolios, while an inflection in property catastrophe reinsurance pricing at the recent January 1 renewal and California wildfires will likely also be of key focus, the analyst tells investors in a research note.