Hartford Financial price target raised to $101 from $100 at Piper Sandler

Piper Sandler raised the firm’s price target on Hartford Financial to $101 from $100 and keeps an Overweight rating on the shares. The company’s Q1 print was another quarter where the bottom line return on equity was very good, but a combination of elevated catastrophe losses and a deteriorating personal lines business generated results that were below investor expectations, the analyst tells investors in a research note. The firm admits Hartford has been a "value trap with no obvious catalyst to achieve the valuation that HIG likely deserves."