Piper Sandler analyst Paul Newsome downgraded The Hanover to Neutral from Overweight with an unchanged price target of $144. After lowering earnings expectations post the Q3 results, the analyst believes the stock is no longer inexpensive. He views Hanover’s valuation as fair at current levels. The quarter suggested that inflation trends in both its personal lines and commercial lines operations have put the company behind its goals, Newsome tells investors in a research note.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on THG:
