FBR Capital Downgrades Hartford Financial Services (HIG) to Market Perform
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FBR Capital downgraded Hartford Financial Services (NYSE: HIG) from Outperform to Market Perform while maintaining a price target of $47.00.
Analyst Randy Binner commented, " HIG is trading at 98% of its five-year min/max P/E valuation. While HIG's post-election move has not been dramatic, it has put HIG close to our $47 sum-of-the-parts-based price target. We do not have a reason to move the target higher and are moving to the sidelines."
Shares of Hartford Financial Services closed at $47.87 yesterday.
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