Keefe Bruyette & Woods Initates a Market Perform Rating on CINF

According to a recent report, Keefe, Bruyette & Woods has initated a Market Perform rating on Cincinnati Financial CINF and maintained a $31.00 price target after the company recently revamped its management team. In the report, Keefe, Bruyette & Woods said, "We view CINF as a well-established commercial lines carrier, on the verge of being considered a national underwriter. Tough market conditions in recent years have put the company in a position where it must reinvent itself to a degree to get back to generating attractive returns." CINF closed yesterday at $30.19.