UPDATE: Evercore Partners Increases PT to $43 on Arch Capital
Evercore Partners raises its price target on Overweight-rated Arch Capital (NASDAQ: ACGL) on higher valuation multiples despite near-term challenges.
Evercore Partners says, "While conventional wisdom suggests owning Arch only when stronger pricing becomes evident, we believe it is best to be early to the party since it is difficult to pinpoint when management will find good opportunities. Significant deals (like what nearly occurred in 4Q11) could result in meaningful top line growth and a run up in the stock price."
AGCL closed at $37.64 a share on Wednesday.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.