Jefferies lowered the firm’s price target on Travelers to $180 from $183 and keeps a Hold rating on the shares. The firm lowers its 2023 and 2024E EPS estimates on lower net favorable PYD estimates, noting that it sees risk in both BI and Personal Auto, as well as an extended timeline to normalization of Personal Auto margins.
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Read More on TRV:
- Travelers price target raised to $191 from $188 at Citi
- Travelers reports Q2 pre-tax catastrophe losses $1.48B vs. $746M last year
- Travelers says Q2 core income decreased due to higher catastrophe losses
- Travelers reports Q2 core EPS 6c, consensus $2.08
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