Argus analyst Kevin Heal raised the firm’s price target on Travelers (TRV) to $295 from $287 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s earnings were much higher than expected due to lower catastrophe losses and higher net investment income, the analyst tells investors in a research note. Argus adds it expects margins for Travelers to improve as the company increases prices on auto and homeowners insurance while maintaining current retention rates.
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