Raymond James Raises Mercury General Price Target to $100 with Strong Buy
Raymond James has increased its price target for Mercury General (MCY) from $90 to $100 while maintaining a Strong Buy rating on the stock. The positive outlook is based on Mercury's solid auto insurance business and its strategic position in the challenging California homeowners’ insurance market. The firm projects continued growth in Mercury's California personal lines market share through 2026, supported by some of the best combined ratios seen in the past two decades, facilitating gradual deleveraging.