Citi raised the firm’s price target on Travelers to $203 from $200 and keeps a Sell rating on the shares. While the company’s underlying loss ratio beats in Business and Personal Insurance helped drive a large beat in Q2, “noise” around casualty reserves and catastrophes “continued to plague the stock, a persistent theme over the last year,” the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TRV:
- Travelers price target lowered to $207 from $213 at Piper Sandler
- Travelers price target raised to $223 from $202 at BofA
- Stock Market News Today, 7/19/24 – Indices Fall as Investors Rotate out of Megacaps
- Travelers price target lowered to $210 from $220 at Morgan Stanley
- Options Volatility and Implied Earnings Moves Today, July 19, 2024