Markel price target lowered to $1,675 from $1,700 at RBC Capital

RBC Capital lowered the firm’s price target on Markel (MKL) to $1,675 from $1,700 and keeps a Sector Perform rating on the shares. The company’s Q3 results were a bit mixed as healthy reserve releases were partly offset by a core loss ratio that remains a bit elevated, while its catastrophe losses were also higher than modeled due to Hurricane Helene impacts, the analyst tells investors in a research note.