Chubb price target raised to $280 from $250 at JMP Securities

JMP Securities analyst Matthew Carletti raised the firm’s price target on Chubb to $280 from $250 and keeps an Outperform rating on the shares. Chubb reported better than expected Q4 results, with stronger favorable prior-period reserve development, higher than expected NII, and lower catastrophe losses, partly offset by lower underwriting results in Life, the analyst tells investors in a research note. The firm highlights Chubb as a top pick.