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Fly News Breaks for December 9, 2016
RLI
Dec 9, 2016 | 07:20 EDT
As noted earlier, RBC Capital downgraded RLI to Underperform from Sector Perform. Analyst Mark Dwelle says that the company's premium valuation relative to its peers could begin to diminish due to negative catalysts. These negative catalysts are "a slower pace of reserve releases, more limited opportunities to expand core margins, and a difficult competitive environment," according to the analyst. Target to $53 from $61.
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