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Fly News Breaks for December 4, 2017
TRV
Dec 4, 2017 | 06:36 EDT
Goldman Sachs analyst Yaron Kinar started Travelers with a Sell rating and $124 price target. The analyst sees the company's liability portfolio experiencing underwriting compression due to rising inflationary trends and weak pricing. Kinar does not believe consensus estimates and valuations appropriately reflect the earnings erosion and rising volatility in the company's commercial liability business.