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Why Lemonade Stock Raced More Than 9% Higher Today

The following day, Jefferies' Andrew Andersen raised his existing price target on the shares. He now believes they are worth 37apiece,quitesomedistancenorthofhisprevious37 apiece, quite some distance north of his previous 30 estimation. That was the good news for Lemonade; the bad is that Andersen left his underperform (sell) rating unchanged. According to reports, the analyst's bump was due in no small to the company's higher premium retention; this should spur revenue growth for the company. On the down side, Andersen expressed concern that Lemon ...