Janney Montgomery Scott analyst Robert Farnam downgraded Travelers (TRV) to Neutral from Buy with a $280 fair value estimated. The shares have returned 52% over the last 12 months, the analyst tells investors in a research note. The firm expects the stock to continue to perform well, but does not see outsized returns relative to peers or the market overall. Based on current performance expectations, the shares look appropriately valued, contends Janney.
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Read More on TRV:
- Travelers downgraded to Neutral from Buy at Janney Montgomery Scott
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- Travelers price target raised to $270 from $233 at BMO Capital
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