BMO Capital analyst Michael Zaremski maintained a Buy rating on Travelers Companies yesterday and set a price target of $297.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Michael Zaremski has given his Buy rating due to a combination of factors including the expectation of improved results in Travelers Companies’ personal lines segment. This improvement is anticipated as a result of strategic rate and corrective actions, alongside a strengthened reserving cushion within its portfolio.
Additionally, Zaremski does not foresee Travelers Companies being at risk of over-earning on its combined ratio KPI when compared to historical levels, which suggests a stable financial outlook. These elements collectively support a positive view on the stock, justifying the Buy rating.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $299.00 price target.
TRV’s price has also changed slightly for the past six months – from $239.980 to $250.620, which is a 4.43% increase.