Truist raises Palomar Holdings stock price target on earnings growth

Truist Securities has raised its price target for Palomar Holdings (NASDAQ:PLMR) to $175 from $168, maintaining a Buy rating on the shares. The stock, currently trading at $153.07, has a market capitalization of $4.04 billion. The firm increased its 2026 earnings per share estimate for the specialty property and casualty insurer to $10.40 from $10.20.

The 2027 earnings forecast for Palomar Holdings is also raised to $12.00 per share from $11.65. These adjustments are based on the company's strong topline growth and solid history of earnings outperformance, with revenue surging 58% over the last twelve months and return on equity reaching 23%. The new price target assumes the stock should trade at just over 14.6 times next year’s earnings, which is slightly above the specialty property and casualty group average.

Palomar Holdings reported stronger-than-expected results for the third quarter of 2026, with an adjusted earnings per share of $3.01, surpassing the analyst forecast of $2.55. The company has also raised its full-year adjusted net income guidance, reflecting confidence in its financial outlook.

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