Cincinnati Financial price target raised to $126 from $116 at Piper Sandler

Piper Sandler analyst Paul Newsome raised the firm’s price target on Cincinnati Financial (CINF) to $126 from $116 and keeps a Neutral rating on the shares following quarterly results. The firm cites a worse than expected result driven by higher-than-expected catastrophe losses. The underlying underwriting results were slightly worse than its expectations, Piper adds.