Truist analyst Mark Hughes raised the firm’s price target on Kinsale Capital (KNSL) to $525 from $480 and keeps a Buy rating on the shares. The firm is assuming 12% topline growth and steady underlying profitability for the company, along with sustained reserve gains of around 300 bps of net earned premiums, the analyst tells investors in a research note. Kinsale should also see an incremental tailwind from rising investment income, Truist states.
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