Travelers (TRV) PT Lowered to $214 at Morgan Stanley
Morgan Stanley analyst Bob Huang lowered the price target on Travelers (NYSE: TRV) to $214.00 (from $230.00) while maintaining a Equalweight rating.
The analyst comments "Elevated loss ratio in Business Insurance and elevated expenses in Bond & Specialty insurance drove the earnings miss. Slower than expected premium growth in BI also contributed to the earnings miss. Going forward, we would focus on pricing and reserving as the key drivers of growth."