RBC Capital analyst Mark Dwelle raised the firm’s price target on Cincinnati Financial to $125 from $108 and keeps a Sector Perform rating on the shares after its Q4 results. High catastrophe losses and mixed reserves and margins were a "sour note" to the company’s 2022-end, but the outlook guidance for 2023 was stronger than expected, the analyst tells investors in a research note. The firm adds that the continued pricing strength backs the management’s 8% premium guide and also views the low to mid 90s combined ratio outlook as doable.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on CINF:
- Cincinnati Financial Reports Fourth-Quarter and Full-Year 2022 Results
- Cincinnati Financial reports Q4 adjusted EPS $1.27, consensus $1.31
- Early notable gainers among liquid option names on January 30th
- Cincinnati Financial to increase quarterly dividend 9% to 75c per share
- Cincinnati Financial announces preliminary Q4 pretax catastrophe losses of $141M