BMO Capital raised the firm’s price target on Travelers (TRV) to $314 from $297 and keeps an Outperform rating on the shares. The firm expects the company’s EPS revision trendline to exceed the consensus over the coming 1-2 years driven by more conservative reserve loss-ratio profit margin picks, the analyst tells investors in a research note. BMO adds that it sees EPS upside to net investment income, given spread between new money rates and existing bond yields, as well as buybacks as growth slows.
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