Wells Fargo raised the firm’s price target on Chubb (CB) to $293 from $277 and keeps an Equal Weight rating on the shares. The firm notes shares traded up as earnings beat and new 14%+ ROE target overshadowed commercial pricing remaining below loss trend. While growing investment income and underwriting results, combined with higher buyback can help ROEs, Wells is still below target.
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Read More on CB:
- Chubb price target raised to $335 from $333 at Keefe Bruyette
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