Truist lowered the firm’s price target on Kinsale Capital (KNSL) to $500 from $530 and keeps a Buy rating on the shares. The firm says multiple expansion appears less likely when competition is up and pricing has decelerated and tells investors in a research note that this multiple at the top of the specialty P&C group is appropriate in light of Kinsale’s elevated returns and still-healthy topline trends.
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Read More on KNSL:
- Kinsale Capital price target lowered to $475 from $480 at RBC Capital
- Kinsale Capital upgraded to Outperform from Peer Perform at Wolfe Research
- Kinsale Capital board authorizes repurchase of up to $100M of common stock
- Kinsale Capital reports Q3 adjusted EPS $4.20, consensus $3.60
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