As previously reported, Raymond James analyst C. Gregory Peters downgraded Hagerty (HGTY) to Underperform from Market Perform with no price target in conjunction with the firm’s 2025 playbook and outlook note for the insurance group. While the firm continues to view Hagerty as “the premier marketplace for classic and collectible vehicles” and expects the company to generate strong top-line growth in 2025, it notes that shares have been rewarded with a premium valuation. The stock is trading at about 34 times the firm’s 2025 EPS estimate, compared with a Personal Auto peer average of about 17 times 2025 EPS and the Insurance Brokerage & Technology peer average of about 22 times 2025 EPS, the analyst tells investors.
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Read More on HGTY:
- Hagerty downgraded to Underperform from Market Perform at Raymond James
- Hagerty Inc Reports Strong Member Growth and Retention
- Hagerty Inc Drives Growth in Classic Car Insurance
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