Piper Sandler analyst Paul Newsome raised the firm’s price target on Cincinnati Financial to $100 from $98 and keeps a Neutral rating on the shares. The analyst estimates Q4 book values for the property-casualty insurers will increase by 5.6%. The rise can be attributed to the 1.9% increase in the bond market as well as a 4.4% increase in the equity market, following the challenging third quarter, Newsome tells investors in a research note.
Published first on TheFly
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