Wells Fargo analyst Elyse Greenspan maintains $Axis Capital Holdings (AXS.US)$ with a sell rating, and adjusts the target price from $63 to $78.
According to TipRanks data, the analyst has a success rate of 64.5% and a total average return of 8.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Axis Capital Holdings (AXS.US)$'s main analysts recently are as follows:
Despite the active global catastrophe events in Q3, expectations are set for the losses to be manageable for property and casualty insurers. The industry anticipates taking into account 'placeholder' losses for Hurricane Milton in the Q4 models, with the awareness that uncertainties persist as the storm has just made landfall. The alterations in target expectations within the group are a reflection of the events that transpired during the quarter and the adjustments in various P/E multiples.
The third quarter results, especially for reinsurers, might be influenced by the recent Hurricane Milton. Personal lines are viewed optimistically due to bettering margins and an increase in policies-in-force. The expectation for the third quarter is for catastrophe losses to be below the five-year seasonal norm, but still higher than the third quarter of the previous year, which could imply potential challenges for primary insurers.
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