Deutsche Bank Upgrades Travelers (TRV) to Hold; Results May Show Turnaround

Deutsche Bank upgraded Travelers (NYSE: TRV) from Sell to Hold, price target raised to $62.00.

Deutsche analyst said, "While we remain concerned that Travelers is poised for an EPS miss in 2013 (Street $6.23 vs. our $3.85), we believe that the company is likely to report earned rate improvements ahead of loss costs for the next couple of quarters, which could lead to support for the stock's current share price. That said, we believe the most urgent "rate hardening" trends in the market are a temporary corrective to a few severely underpriced lines and the general investment theme of returns below the cost of equity capital should return in 2013."

For an analyst ratings summary and ratings history on Travelers click here. For more ratings news on Travelers click here.

Shares of Travelers closed at $63.78 yesterday.

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