BMO Capital analyst Michael Zaremski raised the firm’s price target on Travelers (TRV) to $270 from $233 and keeps an Outperform rating on the shares. The company’s personal lines segment is expected to underperform its ten-year averages by 110bps and 40bps in 2024 and 2025, respectively, though it is not at risk of potentially “over-earning” on its combined ratio metric relative to historical levels, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TRV:
- W. R. Berkley price target raised to $60 from $57 at Evercore ISI
- Travelers price target raised to $273 from $245 at Keefe Bruyette
- Travelers price target raised to $300 from $240 at Roth MKM
- Travelers price target raised to $256 from $207 at Wells Fargo
- Travelers price target raised to $273 from $250 at RBC Capital