Old Republic rises after Raymond James upgrades to 'strong buy'

Shares of property and title insurance firm Old Republic International ORI.N rise 2.3% to $40.75

Raymond James upgrades ORI to "strong buy" from "outperform"; raises PT to $47 from $43, an 18% upside to stock's last close

Brokerage says upgrade reflects potential for an improving forecast for the title insurance segment amid interest rate cuts and ORI's continued success in the specialty insurance build out

Two of three brokerages rate the stock "buy" or higher and one "hold"; with median PT of $46, according to data compiled by LSEG

As of last close, ORI stock up 16.5% YTD