Travelers price target raised to $195 from $190 at RBC Capital

RBC Capital analyst Mark Dwelle raised the firm’s price target on Travelers to $195 from $190 but keeps a Sector Perform rating on the shares. The company’s Q4 results were mixed with Business Insurance remaining strong and Personal Insurance continuing to feel pressure, the analyst tells investors in a research note. RBC Capital further warns that Business Insurance unit comparisons are set to become more difficult and pricing is easing, so underlying improvements in FY23 won’t be easy. The firm also notes that while the company should navigate 2023 "well", at two-times book value, Travelers shares look "fairly valued".