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- Piper Sandler Analyst Paul Newsome downgraded United Fire Group (UFCS) to Neutral from Overweight, but maintained the price target of $37.
- UFCS shares were trading ~10% lower.
- The stock has reached fair value, according to Newsome.
- UFCS stocks have gained ~42% in value year-to-date, and ~21% in value in the last 1 year.
- The stock's valuation at 112% of book value now reflects the company's return to profitability, the analyst said.
- Seeking Alpha's Quant Rating system gives UFCS shares a Strong Buy rating.
- The sell-side analysts also gave the stocks a Strong Buy rating on an average, with an average price target of $37.5.
