Cincinnati Financial price target raised to $126 from $120 at Citi

Citi analyst Charlie Lederer raised the firm’s price target on Cincinnati Financial to $126 from $120 and keeps a Neutral rating on the shares as part of a Q1 earnings preview for the commercial property and casualty insurance broker space. Commercial focused underwriters and insurance brokers remain relatively well situated heading into the quarter, says Citi, which prefers brokers given leverage to pricing, and concerns around casualty lines in commercial lines. The analyst believes organic growth and margins for brokers should remain relatively stable, supporting continued outperformance.