12:30 AM EDT, 05/03/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target price by $265, to $1,810, valuing MKL shares at 17.4x our '25 operating EPS estimate of $104.25 and at 20.4x our '24 EPS estimate of $88.85 (cut today by $1.80), versus their 5-year average forward multiple of 20.7x and a peer average of 14x. Q1 operating EPS of $21.23 versus $16.08 beat the consensus view of $18.30 but lagged our $24.03 EPS estimate. Results reflected 9% higher operating revenues (versus our 8%-12% growth forecast) on 8% higher premiums (8%-10% estimated), 37% higher investment income (20%-plus), and Markel Ventures revenue growth of 6.5% (5%-10%). We expect operating revenues to rise by 8%-12% in '24 and by 9%-14% in '25 on a continuation of these trends within MKL's diversified business model. Currently trading at 17.7x our '24 operating EPS estimate, we view the shares as undervalued versus historical averages, and see continued attractive insurance growth trends, enhanced by contributions from the Markel Ventures unit, providing the shares with a catalyst.