Markel price target raised to $1,625 from $1,475 at RBC Capital

RBC Capital raised the firm’s price target on Markel to $1,625 from $1,475 and keeps a Sector Perform rating on the shares after its Q1 results. The company has fared better in Q1 relative to recent quarters, seeing a return to reserve releases and a cleaner quarter, the analyst tells investors in a research note. RBC adds that it expects Markel to remain conservative with setting loss picks and releasing reserves , with Q1 seen as a “step in the right direction”.