The Hanover price target raised to $170 from $163 at Morgan Stanley

Morgan Stanley raised the firm’s price target on The Hanover (THG) to $170 from $163 and keeps an Equal Weight rating on the shares. The firm is updating its price targets on stocks under its coverage in the P&C Insurance sector, the analyst tells investors. Results were somewhat mixed depending on the segments, but the firm sees further growth and margin expansion in personal lines, which should be durable in 2025. Heading into 2025, the firm expects broader P&C trend to remain steady, with personal lines and brokers leading on the earnings growth front.