JPMorgan raised the firm’s price target on Hartford Financial (HIG) to $143 from $142 and keeps a Neutral rating on the shares as part of a Q3 preview for the property and casualty insurance group. The firm says margins for the insurers and growth for brokers have peaked and will moderate further. However, fundamentals in the business are healthy and sentiment is “downbeat” following the recent stock underperformance, the analyst tells investors in a research note. As such, JPMorgan believes the sector is positioned to outperform.
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Read More on HIG:
- Hartford Financial price target raised to $152 from $150 at UBS
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