Hartford Financial price target raised to $160 from $152 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Hartford Financial (HIG) to $160 from $152 and keeps an Overweight 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.