Chubb price target raised to $268 from $266 at Wells Fargo

Wells Fargo raised the firm’s price target on Chubb (CB) to $268 from $266 and keeps an Equal Weight rating on the shares. The firm is also raising its 2024 EPS estimate for Chubb to reflect lower Milton losses than it had expected. Milton losses are expected at $250M-$300M, relative to its expected $919M, giving Chubb a 0.8% share of the loss relative to the 2.5% share they had from Helene.