** Jefferies downgrades specialty insurer RLI Corp RLI.N to "underperform" from "buy"; cuts PT to $61 from $95, a 15.8% downside to stock's last close
** Brokerage says it expects growing competition in specialty insurance business and lighter premium growth to create a "challenging set-up" for EPS growth over the next two years for RLI
** Adds that it also expects continued high loss trend environment to limit RLI's underwriting income growth
** Jefferies lowers its EPS estimates for RLI by nearly 6% to 8% over the next two years
** Three of 10 brokerages rate the stock "buy" or higher, six "hold" and one "strong sell"; their median PT is $82 — LSEG data
** RLI stock climbed 26.6% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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