Raymond James Raises Price Target on Skyward Specialty Insurance Group by 20%

Raymond James's Gregory Peters raised their price target on Skyward Specialty Insurance Group (NASDAQ: SKWD) by 20% from $30 to $36 on 2023/11/20. The analyst maintained their Strong Buy rating on the stock.

In a recent report, Peters highlighted several catalysts for their Strong Buy rating on Skyward Specialty Insurance Group. These included strong premium growth, stable underlying margins, and increasing Net Investment Income (NII). Peters believes that these factors will position the company to generate "operating ROBEs" in the mid-teens through 2025.

This positive outlook from Raymond James comes on the heels of an upward revision in the price target for Everest Group Ltd. On the same day, Peters raised the price target for Everest Group by 1.1%, from $455 to $460, while also maintaining their Strong Buy rating on the stock.

Analysts have been overwhelmingly optimistic about Skyward Specialty Insurance Group, with 100% of top-rated analysts currently rating it as a Strong Buy or Buy. No analysts see the stock as a Hold, and there are no recommendations to either sell or strongly recommend selling the stock.

Investors in Skyward Specialty Insurance Group have seen positive returns since the company's last quarterly report on September 30, 2023. The stock price has increased by 9.8% during this period, indicating investor confidence in the company's performance.

Gregory Peters, the analyst behind the Strong Buy rating and price target revision, is ranked in the top 7% of Wall Street analysts by WallStreetZen. With an average return of 5.4% and a win rate of 65.7%, Peters specializes in analyzing companies in the Healthcare, Industrials, and Financial Services sectors.

Skyward Specialty Insurance Group, Inc., an insurance holding company, focuses on underwriting commercial property and casualty insurance coverages in the United States. The company offers a wide range of insurance products, including general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance. Headquartered in Houston, Texas, Skyward Specialty Insurance Group, Inc. has been operating since its incorporation in 2006.

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