Cincinnati Financial price target raised to $190 from $175 at Roth Capital

Roth Capital raised the firm’s price target on Cincinnati Financial (CINF) to $190 from $175 and keeps a Buy rating on the shares. The company’s Q1 results were easily ahead of the consensus estimate of $1.95 but a tad behind Roth’s “more aggressive” estimate of $2.16 as catastrophe losses were higher than the firm was modeling, the analyst tells investors in a research note. Roth adds however that the higher-than-average catastrophe losses were partially offset by favorable loss reserve development of 3.2 points.