Skyward downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded Skyward Specialty Insurance (SKWD) to Peer Perform from Outperform without a price target With the shares up 43% in the last year, the risk/reward outlook is largely in balance, the analyst tells investors in a research note. The firm sees limited room for incremental upside against a backdrop of decelerating sales growth and initiates a fair value range of $50-$59 for Skyward shares. The company’s valuation looks full given its growth outlook, contends Wolfe.