BMO Capital analyst Michael Zaremski raised the firm’s price target on The Hanover (THG) to $180 from $161 and keeps an Outperform rating on the shares after meeting with its management team. The firm is positive on the company’s structural improvement to its homeowners’ terms & conditions, which should lead to meaningful profit margin improvement in the coming year, the analyst tells investors in a research note. Hanover’s commercial casualty reserves are in a “healthy spot”, the firm adds.
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