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Fly News Breaks for January 7, 2020
Jan 7, 2020 | 05:15 EDT
Goldman Sachs analyst Yaron Kinar downgraded Chubb to Sell from Neutral with a price target of $147, down from $159. The analyst expects the company to be impacted by deteriorating industry loss trends in liability lines. This should be reflected in continuing slowdown in Chubb's net favorable prior-year development, Kinar tells investors in a research note. The analyst does not believe that consensus estimates and the shares "adequately reflect this negative shift."
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