BMO Capital Raises Neptune Insurance to Outperform While Cutting Price Target to $20
BMO Capital upgraded Neptune Insurance Holdings (NYSE: NP) from Market Perform to Outperform and lowered its price target to $20 from $25. The firm points to Neptune’s high revenue-per-employee metric and uses insurance broker multiples in its valuation, while acknowledging differences in business mix. The new target implies roughly 17% upside from…