The Hanover price target raised to $175 from $160 at JMP Securities

JMP Securities raised the firm’s price target on The Hanover (THG) to $175 from $160 and keeps an Outperform rating on the shares. The Hanover reported better than expected Q3 results, reflecting better than expected ex-cat accident year loss ratio, lower catastrophe losses, and better than projected favorable PPD, while NII and the expense ratio, were both in line, the analyst tells investors in a research note.