Chubb price target raised to $291 from $290 at JPMorgan

JPMorgan raised the firm’s price target on Chubb to $291 from $290 and keeps a Neutral rating on the shares. The firm’s fundamental outlook for the property and casualty sector “remains upbeat” into the Q3 reports, but says optimistic expectations, bullish sentiment, and valuations temper its views on stocks. Continued firm pricing and the group’s defensive risk profile are key positives, but expectations for margins at underwriters and sales growth at brokers are optimistic, the analyst tells investors in a research note.