Keefe Bruyette raised the firm’s price target on Chubb to $275 from $265 and keeps an Outperform rating on the shares. The analyst estimates that Chubb’s year-end 2023 reserves were overstated by $3.3B, suggesting persistent reserve releases in 2024 and 2025. The firm expects sustained strong profitable premium growth to drive the shares upward over the next 12 months.
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