BUZZ-Accelerant jumps after Citizens upgrades to 'market outperform'

Reuters
2025/12/05
BUZZ-Accelerant jumps after Citizens upgrades to 'market outperform'

** Specialty insurance marketplace Accelerant's ARX.N shares jump ~6% to $14.99

** Citizens upgrades ARX to "market outperform" from "market perform"; establishes a $20 PT, which is 41% upside to stock's last close

** Brokerage believes the weakness since ARX's July IPO is overdone, which it believes has been driven by fears relating to business with a related party

** Citizens sees substantial runway for growth over the long term given the sizable addressable market of the property and casualty industry

** Combination of solid revenue growth, strong and improving margins as the business scales, and a clean balance sheet warrant a valuation more in line with peers — brokerage

** 8 of 10 brokerages rate the stock "buy" or higher and two "hold"; median PT $19.50 — data compiled by LSEG

** As of last close, ARX stock down 32.7% from IPO price since debut in July

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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