Wells Fargo lowered the firm’s price target on Chubb (CB) to $267 from $285 and keeps an Equal Weight rating on the shares. The firm says shares traded down as price falls below loss trend, which combined with a shift to casualty should pressure future margins. Wells highlighted Chubb as its bearish P&C call into earnings given its property concentration.
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Read More on CB:
- Chubb downgraded to Neutral from Overweight at Piper Sandler
- Chubb Downgraded to Neutral Amid Softening Insurance Cycle and Competitive Pressures
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