Morgan Stanley raised the firm’s price target on Chubb (CB) to $300 from $280 and keeps an Equal Weight rating on the shares. The firm is updating its price targets on stocks under its coverage in the P&C Insurance sector, the analyst tells investors. Results were somewhat mixed depending on the segments, but the firm sees further growth and margin expansion in personal lines, which should be durable in 2025. Heading into 2025, the firm expects broader P&C trend to remain steady, with personal lines and brokers leading on the earnings growth front.
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Read More on CB:
- Insurer Chubb (CB) Announces $5 Billion Stock Buyback and Hikes Quarterly Dividend
- Chubb Shareholders Approve Capital Band Amendment
- Warren Buffett’s Berkshire Hathaway (BRK.B) Dumped Bank Stocks During First Quarter
- Chubb to increase dividend 6.6% to 97c per share per quarter
- Chubb authorizes new $5B share repurchase program
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