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HIG

Hartford Financial

$52.41

0.54 (1.04%)

06:33
06/19/17
06/19
06:33
06/19/17
06:33

Hartford bear case has 'weak premises,' says Deutsche Bank

In a research note titled "Challenging the Bear Case," Deutsche Bank analyst Joshua Shanker argues that the bear case for shares of Hartford Financial has "weak premises." The cases, including a potential material acquisition, the sale of Talcott leading to a material writedown of book value and the company's deferred tax assets having no value, are "insufficient" to hold investors back from buying the shares, Shanker tells investors in a research note. The analyst sees "material" upside potential and keeps a Buy rating on Hartford with a $60 price target.

HIG Hartford Financial
$52.41

0.54 (1.04%)

01/06/17
FBCO
01/06/17
DOWNGRADE
FBCO
Neutral
Hartford Financial downgraded to Neutral from Outperform at Credit Suisse
01/06/17
FBCO
01/06/17
DOWNGRADE
Target $53
FBCO
Neutral
Hartford Financial downgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse downgraded Hartford Financial to Neutral from Outperform and increased its price target to $53 from $51. Analyst Ryan Tunis said shares have rerated since the election, partially on optimism around a potential sale of the run-off life unit, Talcott. Tunis thinks potential tax refrom makes Hartford less likely to sell Talcott as getting rid of AMT would accelerate Hartford's ability to realize cash value of the nearly $2B of DTA from NOLs that reside in Talcott. Further, the analyst believes there are two or three quarters of net positive reserve activity are needed for the stock to discount the idea of improved underwriting, which is unlikely in 2017 following Hartford's announcement that there is further adverse development in auto coming in the fourth quarter.
06/06/17
DBAB
06/06/17
INITIATION
Target $60
DBAB
Buy
Hartford Financial initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Joshua Shanker started Hartford Financial with a Buy rating and $60 price target. The sum of the parts at the company are worth "materially more than the stock price currently indicates," Shanker tells investors in a research note. The analyst, however, notes that he's not arguing for a break-up.
06/06/17
06/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hartford Financial (HIG) initiated with a Buy at Deutsche Bank. 2. FedEx (FDX) and UPS (UPS) were initiated with a Neutral at Seaport Global. 3. Gardner Denver (GDI) was initiated with an Outperform at William Blair and Baird, an Overweight at Piper Jaffray, a Buy at Stifel, UBS, and Goldman Sachs, as well as a Neutral at Credit Suisse. 4. Solaris Oilfield (SOI) was initiated with an Outperform at Wells Fargo, Oppenheimer, Evercore ISI, and Credit Suisse, an Overweight at Piper Jaffray, as well as a Buy at Goldman Sachs and Wunderlich. 5. LeMaitre (LMAT) initiated with a Hold at Craig-Hallum. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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