Why Markel Stock Popped on Friday
Markel Corp. (NYSE: MKL) stock ended the trading week in style by closing 2.5% higher in Friday's session. That was in contrast to the bellwether S&P 500 index, which slumped by 1% on the day. One researcher cranked its price target on the stock higher, and investors took the added bullishness to heart.
Markel, which is often compared to superstar investor Warren Buffett's company Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), received that increase from Truist Securities. The firm now believes Markel is fairly valued at $1,400 per share, up from its previous estimation of $1,300. Despite the bump, Truist maintained its hold recommendation on the stock.
The reasoning behind Truist's move wasn't immediately apparent.
Source Fool.com
