International General Insurance up after Oppenheimer starts at 'outperform'

International General Insurance Holdings

21/11/2024 15:07

** Specialty insurer International General Insurance
Holdings'  IGIC.O  shares jump 5.4% to $25.87 in early trading
    ** Oppenheimer starts coverage of IGIC with "outperform"
rating and $30 PT, a 22.2% upside to stock's last close
    ** Brokerage believes the shares are deeply discounted and
investors are likely to find the company's capabilities
attractive
    ** Says that IGIC's impressive global reach should insulate
growth against slowing industry pricing environment
    ** All three brokerages rate the stock "buy" or higher;
median PT is $28 - LSEG data
    ** As of last close, IGIC shares up 97.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))