Bank of America Provides Color on The Travelers Companies, Buy

Bank of America provided color on the Travelers Companies

. In a research report published today, Bank of America expressed its optimism about the company's long term outlook after a meeting with the company's management. In the report, Bank of America states, "The main point of Travelers' presentation was that despite its size and diversification, Travelers is not a proxy for the entire insurance market. Management made the argument that in a number of areas the company has competitive advantages that would allow it to earn returns well above its cost of capital over time. Depending on the line of business, those competitive advantages ranged from breadth of product, technology, agency relationships, claims and loss control competencies and specialization." At the moment, Bank of America has a Buy rating and a price target of $68 placed on the company's stock. On Friday, Travelers closed the week at $59.21.