Keefe Bruyette analyst Meyer Shields upgraded Bowhead Specialty (BOW) to Outperform from Market Perform with an unchanged price target of $44 following the Q4 report. The stock’s current valuation underappreciates Bowhead’s “very strong” premium growth prospects amid “very favorable” specialty casualty insurance market conditions, the analyst tells investors in a research note. The firm expects sustained strong and profitable gross written premiums growth without material net reserve charges to boost the shares over the next 12 months.
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