James River Group price target lowered to $11 from $14 at JMP Securities

JMP Securities analyst Matthew Carletti lowered the firm’s price target on James River Group to $11 from $14 and keeps an Outperform rating on the shares. James River reported “mixed” Q2 results, with timing/accounting items leading to a miss on the EPS print, the majority of which will be recouped in Q3, the analyst tells investors in a research note. Management reaffirmed that the board continues to evaluate strategic options for the company, and JMP believes that a sale may be the most shareholder-friendly path to value creation in the near-to-intermediate term.