SunTrust analyst Mark Hughes raised his price target on Kinsale Capital Group to $65 but lowered his FY18 EPS view to $1.77 from $2.03 after its Q2 earnings and outlook update. The analyst cites the company's "more conservative view regarding the current accident year results" along with its "favorable" reserve development. Hughes also notes that Q2 saw a 22% increase in new policy submission counts, which is typically a good indicator of future gross written premium trends, adding that the management was also more optimistic about pricing after a low-single digit increase in the prior quarter. The analyst also kept his Buy rating on Kinsale Capital Group.