W. R. Berkley price target raised to $76 from $73 at BofA

BofA analyst Joshua Shanker raised the firm’s price target on W. R. Berkley (WRB) to $76 from $73 and keeps a Buy rating on the shares after Q3 results. The firm’s price target rises due to multiple expansion as the analyst notes that Berkley has “traditionally enjoyed a sizable premium to peer multiple valuation likely due to its long-term compounding of equity in excess of other best-in-class peers.”