Truist has increased its price target for Palomar Holdings, Inc. (PLMR, Financial) from $150 to $178, while maintaining a Buy rating on the stock. This decision is driven by data from key states showing a strong correlation with Palomar’s performance in its PESIC E&S segment.
The insurer's premium growth in these states is anticipated to support or even surpass the market's average projection of a 21% overall expansion. This optimistic outlook suggests Palomar is well-positioned for continued success in its specialty insurance operations.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Palomar Holdings Inc (PLMR, Financial) is $156.20 with a high estimate of $178.00 and a low estimate of $140.00. The average target implies an upside of 2.41% from the current price of $152.53. More detailed estimate data can be found on the Palomar Holdings Inc (PLMR) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Palomar Holdings Inc's (PLMR, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Palomar Holdings Inc (PLMR, Financial) in one year is $142.03, suggesting a downside of 6.88% from the current price of $152.53. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Palomar Holdings Inc (PLMR) Summary page.
