Chubb downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Jimmy Bhullar downgraded Chubb to Neutral from Overweight with an unchanged price target of $250. The analyst has a less constructive view on the broader commercial lines market and says the stock’s valuation is not as compelling as it was at the time of the firm’s upgrade in March. Elevated inflation is a risk for the property and casualty sector, investor sentiment is bullish, and valuation levels are not attractive, the analyst tells investors in a research note.