W. R. Berkley price target raised to $70 from $67 at Wells Fargo

Wells Fargo analyst Elyse Greenspan raised the firm’s price target on W. R. Berkley (WRB) to $70 from $67 and keeps an Overweight rating on the shares. The firm notes the company printed EPS of $1.13, beating its and Street’s estimates. However, the quality of the beat was low given the tax rate/FX, Wells adds. 2025 set up looks better with guide for double digits NWP growth, underlying margin improvement, and limited CA losses, the firm argues.