Analyst Shines A Spotlight On Kinsale Capital Group's Healthy Growth Prospects, Double Upgrades Stock - K

BMO Capital Markets analyst Michael Zaremski upgraded Kinsale Capital Group Inc (NYSE:KNSL) to Outperform from Underperform at an increased price target of $389 from $270.
The analyst is bullish on the competitive advantage of Kinsale, given its lower expense structure that is hard to mimic.
The analyst expects the excess & surplus insurance marketplace to decelerate but still grow at high/healthy low-double-digit levels and benefit Kinsale.
Zaremski expects Kinsale to continue experiencing 30%+ revenue growth rates through 2024.
The analyst raised EPS to $2.56 (from $2.49) in Q2 2023, $10.80 (from $10.31) in 2023 and $14.40 (from $12.40) in 2024.
Zaremski also increased the estimate for net premium written to 339 (from 310) in Q2 2023, 1,308 (from 1,216) in 2023 and 1,700 (from 1,429) in 2024.
Price Action: KNSL shares are trading higher by 7.08% at $334.61 on the last check Friday.

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