Chubb price target raised to $309 from $300 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Chubb (CB) to $309 from $300 and keeps a Neutral rating on the shares. The initial positive stance on insurance brokers appears premature and overly optimistic, as near-term fundamentals are likely to deteriorate before improving. While the subgroup remains interesting, negative consensus organic growth revisions are expected in the interim.