Citi analyst Charlie Lederer initiated coverage of Cincinnati Financial with a Neutral rating and $110 price target. The analyst says the reinsurance group is the firm’s second favorite insurance sub-sector along with personal lines, behind brokers, though it acknowledges “crowding risk.” The firm expects Cincinnati Financial to generate solid growth into 2024. Its Neutral rating primarily relates to the company’s greater exposure to severe convective storm catastrophe events, particularly in the Midwest and valuation.
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Read More on CINF:
- Cincinnati Financial Corporation Declares Regular Quarterly Cash Dividend
- Cincinnati Financial initiated with a Perform at Oppenheimer
- Cincinnati Financial price target raised to $110 from $105 at Piper Sandler
- Cincinnati Financial reports Q3 adjusted EPS $1.66 , consensus $1.15
- Cincinnati Financial Reports Third-Quarter 2023 Results
