Wells Fargo analyst Elyse Greenspan raised the firm’s price target on Travelers (TRV) to $294 from $291 and keeps an Equal Weight rating on the shares. Price won the tug of war vs. positive EPS revisions, the firm says. RRC went down 70bps sequential to 4.5%, lowest RRC since Q4 2022. RRC ex property was +6.7%. Travelers is buying back $2.9B of shares over next two quarters, driving forward numbers up, Wells adds.
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