FBR Capital Maintains a 'Market Perform' on Travelers (TRV); Strong Start to the Year, But We See More Upside Elsewhere

FBR Capital maintains a 'Market Perform' on Travelers (NYSE: TRV), PT $71.

FBR analyst says, "With an acceleration in growth, we are turning more positive on the outlook of the company. But we are maintaining our Market Perform and $71 price target as we see greater upside in other large-cap insurance stocks, such as ACE Limited (NYSE: ACE)(Outperform). There seems to be a shift from a headwind to a tailwind, with positive audit premiums and favorable rate changes. While business insurance and personal insurance are performing well, there are still some challenges in the financial, professional & international insurance (FP&II) segment, which experienced 9% shrinkage in premiums excluding the impact of foreign exchange. For example, management mentioned that the surety market remains growth-challenged, as construction spending remains sluggish and competition is becoming more aggressive."

For more ratings news on Travelers click here and for the rating history of Travelers click here.

Shares of Travelers closed at $59.13 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery