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Fly News Breaks for May 23, 2019
AXS, AIG, CB
May 23, 2019 | 05:47 EDT
UBS analyst Brian Meredith downgraded Chubb (CB) to Neutral from Buy while raising his price target for the shares to $154 from $146. The analyst believes the benefit of improved pricing in the excess and surplus market as well as improved underwriting discipline at Lloyd's are already reflected in the shares. He prefers shares of AIG (AIG) and Axis Capital (AXS), which Meredith believes will benefit more from the improving E&S pricing environment.
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