Lemonade price target raised to $60 from $40 at JMP Securities

JMP Securities raised the firm’s price target on Lemonade (LMND) to $60 from $40 and keeps an Outperform rating on the shares. Lemonade’s investor day event drove home how the company is well ahead of any peers when it comes to embracing AI and reaping the benefits it provides in scaling a business, the analyst tells investors in a research note. The firm sees a long runway for Lemonade, and thinks the path to the business doubling is likely shorter than the market thinks.