Hartford Financial price target raised to $104 from $91 at JPMorgan

JPMorgan analyst Jimmy Bhullar raised the firm’s price target on Hartford Financial to $104 from $91 and keeps a Neutral rating on the shares. The firm’s outlook for business trends in the property and casualty sector is upbeat, but it feels bullish sentiment and relatively full valuation levels will limit upside in the stocks heading into the Q1 reports. Disciplined pricing and the group’s defensive risk profile are key positives, but expectations for margins and growth “seem optimistic and valuations are not attractive,” the analyst tells investors in a research note.