Chubb upgraded to Buy at Goldman Sachs on diversification

As previously reported, Goldman Sachs analyst Robert Cox upgraded Chubb (CB) to Buy from Neutral with a price target of $351, up from $309. The firm sees Chubb achieving a stable 14% ROE including normal realized gains over coming years, while peer valuation and ROEs compress moving further through softer market conditions. The firm sees Chubb’s broad product diversification and track record of underwriting outperformance as attractive and supportive of the view that the company can maintain its ROE, the analyst tells investors.