Insurance broker TWFG gains after Piper Sandler raises PT

TWFG

30/08/2024 17:52

** Shares of insurance broker TWFG  TWFG.O  rise as much as
6%, last up 5.1% at $28.75
    ** Piper Sandler raises TWFG price target to $30 from $27,
which represents a 9.7% upside to stock's last close
    ** Brokerage says TWFG should trade higher than its peers
due to its higher growth expectations
    ** There is a scarcity of companies like TWFG both from a
market cap perspective as well as business composition, Piper
Sandler says
    ** Adds that TWFG is poised to benefit from the ongoing
consolidation in the insurance brokerage industry
    ** As of last close, TWFG shares were up 60.8% since debut
in July

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