Deutsche Bank Upgrades Cincinnati Financial (CINF) to 'Hold' Following Share Price Decline

Deutsche Bank upgraded Cincinnati Financial (NASDAQ: CINF) from Sell to Hold, price target lowered by $1 to $23.00.

Deutsche analyst says, "Shares of Cincinnati Financial fell 11% during the 8/4-8 market plunge. Including the dividend, we believe downside is less than 5% (at these market levels), following the 8/9 market rally. Further, while CinFin's recent decline was in-line with the S&P 500's 3-day decline, it outperformed financials over that stretch. The stock now trades at 86% of 3Q11 book, a fair valuation for a company whose results have correlated with the market, albeit at a lower beta."

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

Shares of Cincinnati Financial closed at $24.05 yesterday.

---

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

---

You May Also Be Interested In

• Cincinnati Financial (CINF) Declares $0.94 Quarterly Dividend; 2.2% Yield
• Deutsche Bank Starts Ardagh Metal Packaging S.A. (AMBP) at Hold
• Deutsche Bank Downgrades Straumann Holding AG (STMN:SW) (SAUHF) to Hold