Morgan Stanley initiated coverage of The Hanover (THG) with an Equal Weight rating and $170 price target The firm says a supportive pricing and macro environment is likely to persist for 2025 and beyond for the excess and surplus market, providing a tailwind for property and casualty companies that can demonstrate underwriting discipline and pricing power. The analyst prefers Kinsale, Ryan Specialty, and Brown & Brown in the group. Morgan Stanley expects pricing to remain supportive of growth in the excess and surplus market.
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Read More on THG:
- The Hanover raises quarterly dividend to 90c per share from 85c
- The Hanover downgraded to Neutral at Janney after 40% rally
- The Hanover downgraded to Neutral from Buy at Janney Montgomery Scott
- The Hanover price target raised to $177 from $165 at Oppenheimer
- The Hanover price target raised to $175 from $162 at Piper Sandler
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
