Cincinnati Financial price target raised to $160 from $140 at Roth MKM

Roth MKM raised the firm’s price target on Cincinnati Financial (CINF) to $160 from $140 and keeps a Buy rating on the shares. The company’s Q3 catastrophe losses were about 3.6 points higher than expected and hurt earnings by about $0.40 per share after taxes, but while these were more Roth’s estimate, the losses this quarter were only a couple of points higher than the company’s five-year average, the analyst tells investors in a research note.