Skyward Specialty rises after Jefferies initiates coverage with 'buy'

Skyward Specialty Insurance

12/12/2023 18:09

** Shares of insurer Skyward Specialty  SKWD.O  rise 1.3% to
$33.39
    ** Jefferies starts coverage with "buy" rating and $40 PT;
Raymond James raises PT to $40 from $36
    ** Jefferies expects higher net interest income (NII) and
continued strong net premiums written (NPW) growth from
specialty insurance
    ** Sees SKWD's underwriting margin improving modestly in
2024 
    ** 5 of 6 brokerages rate the stock "buy" or higher, one
"hold"; their median PT is $36 - LSEG
    ** Up to last close, shares more than doubled since debut on
Jan. 13

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