Hartford Financial price target raised to $87 from $80 at Argus

Argus raised the firm’s price target on Hartford Financial to $87 from $80 and keeps a Buy rating on the shares. The analyst cites the company’s Q3 earnings beat and believes that Hartford should generate above-peer-average ROE over the next few years as management raises prices and reduces operating expenses. Argus adds however that its reduced FY24 EPS view to to $9.65 from $9.72 is based on its expectations for continued losses in Hartford Financial’s Personal line in the second half of next year, offset by improvement in the investment portfolio and higher AUM next year.