Chubb downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded Chubb (CB) to Hold from Buy with a $303 price target The company’s year-to-date outperformance versus the S&P 500 Index is unlikely to continue, as a “calmer” equity market shifts its focus back to underlying fundamentals, the analyst tells investors in a research note. The firm believes “signs of deterioration” in Chubb’s fundamentals are becoming evident. The company faces outsized exposure to the insurance pricing cycle, where rates have already begun to fall in key lines, contends Deutsche Bank.