Arch Capital Group Stock Receives Boost from JPMorgan Chase & Co.
Arch Capital Group (NASDAQ:ACGL) stock has received a boost from JPMorgan Chase & Co. The investment bank raised its price objective for ACGL from $116.00 to $118.00 in a report issued on Tuesday, indicating a potential upside of 20.08% from the current price.
This is not the first time Arch Capital Group has received positive forecasts. In July, Royal Bank Of Canada reaffirmed an 'outperform' rating and issued a target price of $120.00, while Morgan Stanley lifted its price target on ACGL from $105.00 to $110.00 and gave the stock an 'overweight' rating.
Despite these positive forecasts, some analysts have expressed caution about Arch Capital Group's stock performance. Keefe, Bruyette & Woods reduced their price target on ACGL from $102.00 to $99.00 and set a 'market perform' rating for the company.