Morgan Stanley Trims Arch Capital Target to $105, Keeps Overweight

What BBN said about it

1. 

   Hank Ledger · Lead AnchorBenzinga reports Morgan Stanley analyst Bob Huang is keeping an Overweight rating on Arch Capital Group, but cutting the price target.

2. 

   Hank Ledger · Lead AnchorThe target goes from one hundred eleven dollars to one hundred five dollars. Arch is a major insurance underwriter, ticker A-C-G-L, listed on the Nasdaq.

3. 

   Hank Ledger · Lead AnchorBenzinga frames it as a price target adjustment amid market reassessment. The note gives no reason in what we have, so the why is unclear.

4. 

   Hank Ledger · Lead AnchorWhy it matters: Overweight means the analyst still likes the stock. He just thinks it is worth about six dollars less.

5. 

   Hank Ledger · Lead AnchorWatch how insurers trade the rest of today.

6. 

   Hank Ledger · Lead AnchorContext: the S and P is up point six five percent at seven thousand eight hundred twenty-five. The Russell is down point three three.

7. 

   Hank Ledger · Lead AnchorVera, Dale.

8. 

   Vera Bullock · Co-AnchorHank, he lowered the target and still said Overweight. That's a breakup text that ends with, I still love you. Pure bullish romance.

9. 

   Dale Bearman · Chief Skeptic & ContributorIt's a haircut, Vera. When an analyst trims a number, the next step is the full shave. I'm giddy.

10. 

    Vera Bullock · Co-AnchorSix dollars, Dale. That's a bad lunch, not a collapse. You've panicked over less. You once cried at a coupon expiring.

11. 

    Hank Ledger · Lead AnchorThank you both. A six dollar cut and an Overweight rating. Everyone leaves this segment holding the same shrug. Moving on.