Deutsche Bank Upgrades Cincinnati Financial (CINF) to 'Hold' Following Share Price Decline
Get Alerts CINF Hot Sheet
Price: $117.52 +1.93%
Rating Summary:
7 Buy, 9 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
7 Buy, 9 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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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.
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.
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