Piper Sandler downgraded Chubb (CB) to Neutral from Overweight with a price target of $283, down from $335, post the Q2 report. The insurance cycle is starting to soften and Chubb will not be able to avoid the effects, the analyst tells investors in a research note. Piper says the pricing and competition commentary from Chubb and its peers make it less optimistic on the company going into a soft market.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CB:
- Chubb Downgraded to Neutral Amid Softening Insurance Cycle and Competitive Pressures
- Chubb Limited Reports Strong Q2 Earnings Growth
- Chubb price target lowered to $312 from $315 at Evercore ISI
- Cautious Outlook on Chubb: Sell Rating Maintained Amid Competitive Pressures and Financial Challenges
- Chubb reports Q2 core EPS $6.14, consensus $5.97