BofA analyst Grace Carter lowered the firm’s price target on Cincinnati Financial to $117 from $120 and keeps a Neutral rating on the shares after the company pre-announced Q1 catastrophe losses and also specified it expects a Q1 combined ratio of 99%-103% and net premiums written growth of 6%. The Q1 results "compare unfavorably" with the company’s FY23 goals, BofA stated.
Published first on TheFly
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