Chubb downgraded to Hold from Buy at Jefferies

Jefferies analyst Yaron Kinar downgraded Chubb (CB) to Hold from Buy with a price target of $246, up from $241. Kinar, who also downgraded Marsh McLennan (MMC) to Hold from Buy, said the changes "are largely valuation-driven." With estimates for the pair largely in-line with the Street’s view, the analyst sees limited room for re-rating.