KBW Raises Arch Capital Group Price Target to $94 (ACGL)

Keefe, Bruyette & Woods Inc. raised its price target to $94 on shares of Arch Capital Group (NASDAQ: ACGL) today. KBW reiterated its Outperform rating on the stock.

Arch Capital is a Bermuda-based global insurance holding company that focuses on underwriting specialty lines of insurance and reinsurance risks. The company has a significant presence in the marketplace.

Keefe, Bruyette & Woods analysts maintain a discouraging industry outlook. "The P&C industry is in a period of weakening profitability and slow growth. [Analysts] favor those companies that we believe are best positioned to increase book value over time. KBW recommends an underweight position in the sector."

Shares of Arch Capital Group are down more than 2.8% today, to $77.77.