Lemonade, Inc. announced on June 11 that its renters' insurance product is now available in Montana, expanding its U.S. geographic footprint. Management said the launch aligns with the company's mission to simplify insurance through technology, giving Montana residents easier digital access to renters coverage. On June 8, TD Cowen raised its price target on Lemonade to $55 from $33 while maintaining a Hold rating, reflecting a more favorable outlook on the company's prospects. Lemonade is a digital insurance company founded in 2015 that uses artificial intelligence and behavioral economics, and it also offers pet health insurance for dogs and cats.
Lemonade IncTD Cowen raised price target to $55 from $33, reflecting more favorable outlook.