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Fly News Breaks for April 25, 2018
TRV
Apr 25, 2018 | 08:37 EDT
MKM Partners analyst Harry Fong lowered his price target on Travelers to $140 after the company's Q1 earnings miss, saying he may have "underestimated" the company's underwriting expenses. Fong keeps a Neutral rating on the company and remains generally positive on its business trends, with renewal premium change in Business Insurance reaching its highest level in 3 years along with an "excellent" given the current environment combined ratio of 95.5%.
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TRV
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