BUZZ-Bowhead Specialty rises after KBW upgrades to 'outperform' on valuation

Insurer Bowhead Specialty's BOW.N shares rise 3.1% to $34.66

KBW upgrades BOW to "outperform" from "market perform" following Q4 results; maintains $44 PT, a 30.8% upside to stock's last close

Brokerage says BOW's current valuation doesn't reflect its strong premium growth prospects in a favorable specialty casualty insurance market

Says it expects the premium growth to boost the shares over the next 12 months

Three of six brokerages rate the stock "buy" or higher and three "hold"; median PT is $38 - LSEG

As of last close, BOW stock down 5.3% YTD