Stewart price target raised to $80 from $68 at BTIG

BTIG raised the firm’s price target on Stewart to $80 from $68 and keeps a Buy rating on the shares as part of a broader sector note previewing Q2 for Title Insurance names. Title Insurers were down about 10% in Q2, which is generally below other sub-sectors within the Housing ecosystem that were flat to up mid-single-digits over the same time-period, the analyst tells investors in a research note. More recently however, with housing inventory moving higher in certain parts of the country and rates closer to 6.75%, the question for the sector is whether a bottom is in on orders and margins, leading to a sector recovery in FY25, the firm added.