Travelers (TRV) PT Lowered to $162 at Barclays
Get Alerts TRV Hot Sheet
Price: $229.96 +0.49%
Rating Summary:
12 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
Rating Summary:
12 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
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Barclays analyst Jay Gelb lowered the price target on Travelers (NYSE: TRV) to $162.00 (from $174.00) while maintaining a Overweight rating.
Analyst says: "We believe the debate on TRV shares will likely now be around whether the company has put its need for reserve strengthening behind it. We lower our 2019/20 EPS estimates to $9.48/$10.75 from $9.95/$11.50 following the 3Q result, and reduce our price target to $162 (15x our new ’20E EPS) from $174 (15x our old ‘20E EPS of $11.50 and ~1.9x our 2020 BVPS excluding AOCI of $90)."
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