Fly News Breaks for January 10, 2020
Jan 10, 2020 | 04:52 EDT
Keefe Bruyette analyst Meyer Shields downgraded Travelers to Underperform from Market Perform with a price target of $125, down from $144. The analyst expects core underwriting margin pressure in personal lines and workers compensation, and likely limited overall reserve development, to lead Travelers shares to underperform the peer group.
News For TRV From the Last 2 Days
Nov 27, 2020 | 08:30 EST
MKM Partners analyst Harry Fong raised the firm's price target on Travelers to $160 from $140 and keeps a Buy rating on the shares as part of a broader research note into the P&C Insurance sector. The analyst notes that the group still has "significant upside" ahead as earnings recovery remains about a year away while valuation levels are relatively low by historical standard. Fong further cites the growing expectations of "hardening" price levels in 2021 and possibly into 2022 in the industry.