** 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))