Cowen & Co. reaffirms a “Buy” rating for NYSE:AXS, with the stock showing a significant year-to-date increase of 64.7%.
AXIS Capital’s market performance outpaces the industry and sector averages, with a current market capitalization of approximately $7.82 billion.
The company’s stock price has reached a 52-week high, with analysts projecting a potential upside of 8.8%.
On November 27, 2024, Cowen & Co. maintained its “Buy” grade for NYSE:AXS (AXIS Capital Holdings). At the time, the stock was priced at $93.24. AXIS Capital, a company known for its specialty insurance and reinsurance services, has been performing well in the market. It competes with other firms in the finance sector, but its recent performance has been noteworthy.
AXS has experienced a significant rally, with its shares increasing by 64.7% year-to-date. This growth surpasses the industry’s 33.4% rise, the Finance sector’s 23.2% increase, and the Zacks S&P 500 composite’s 25.3% gain. The company’s market capitalization is approximately $7.82 billion, and it has an average trading volume of 0.5 million shares over the past three months.
The company’s success is attributed to its diversified product portfolio, underwriting excellence, digital capabilities, and strong capital position. AXS is trading above its 50-day moving average, indicating a bullish trend, and is near its 52-week high. The stock’s current price is $93.49, reflecting an increase of approximately 2.78%, with a daily rise of $2.53.
Analysts have set an average target price of $96.57 per share for AXS, suggesting a potential upside of 8.8% from the recent closing price. The company’s focus on specialty insurance, reinsurance, and the accident and health portfolio continues to drive its growth. During the trading day, AXS reached a low of $91.53 and a high of $93.74, marking its highest price over the past year.
