Cincinnati Financial price target lowered to $118 from $125 at RBC Capital

RBC Capital analyst Mark Dwelle lowered the firm’s price target on Cincinnati Financial to $118 from $125 and keeps a Sector Perform rating on the shares. The company’s Q1 was "tough" as large catastrophe losses overshadowed the fairly healthy core margins, but Cincinnati Financial is doing the work to improve profitability and reduce catastrophe volatility, notably increasing prices in Property businesses and repositioning the reinsurance platform, the analyst tells investors in a research note.