Piper Sandler downgrades insurer ProAssurance to 'neutral'
11/11/2024 17:56
** Piper Sandler downgrades insurer ProAssurance PRA.N to
"neutral" from "overweight"; assigns PT of $18 — still a 5.6%
upside to stock's last close
** Brokerage says stock is now around its fair value and no
longer as undervalued as it was
** PRA has risen 16.3% this month
** Continue to be optimistic on PRA's return to
profitability, but there is a lack of catalysts to improve
dramatically - Piper Sandler
** One of six brokerages rate the stock "buy" and five
"hold"; median PT is $16.50 - LSEG data
** As of last close, stock up 23.2% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))