The Hanover initiated with a Sector Perform at RBC Capital

RBC Capital analyst Rowland Mayor initiated coverage of The Hanover (THG) with a Sector Perform rating and $200 price target The stock’s valuation is “becoming more challenging” at current levels at a time when the company’s turnaround story reaching its conclusion, the analyst tells investors in a research note. RBC believes Hanover’s risk/reward has become more balanced with the easy gains being realized.