RLI Corp. price target lowered to $80 from $88 at RBC Capital

RBC Capital analyst Mark Dwelle lowered the firm’s price target on RLI Corp. (RLI) to $80 from $88 and keeps a Sector Perform rating on the shares after its Q4 earnings miss. The company’s results trailed estimates mostly due to an underwriting loss in the Casualty segment, though its Surety and Property combined ratios remain good and reserve releases were solid, the analyst tells investors in a research note. RBC maintains that RLI is a “high-quality company” that will take prudent actions including large rate increases and repositioning in Casualty during 2025.