James River Group price target raised to $24 from $22 at Barclays

Barclays analyst Tracy Benguigui raised the firm’s price target on James River Group to $24 from $22 and keeps an Equal Weight rating on the shares post the Q4 results. The company’s decision to stop underwriting new business within Casualty Re doesn’t tackle reserve risk and it consequentially leads to a higher expense base, the analyst tells investors in a research note.