Travelers price target raised to $275 from $264 at Wells Fargo

Wells Fargo raised the firm’s price target on Travelers (TRV) to $275 from $264 and keeps an Equal Weight rating on the shares. The firm notes Travelers’ shares traded higher as the combination of the earnings beat, clean BI results, and forward numbers going higher overshadowed the property pricing slowdown in the quarter. The deceleration in the BI RRC was attributed to National Property, Wells adds.