Lemonade price target raised to $15 from $13 at BMO Capital

BMO Capital raised the firm’s price target on Lemonade (LMND) to $15 from $13 and keeps an Underperform rating on the shares following Lemonade’s investor day. The firm’s higher target now assumes a less dilutive cap raise following Lemonade’s recent stock price run, but the firm’s valuation methodology continues to embed a capital raise in outer years, the analyst tells investors.