Citi Reiterates Hold and PT of $64 on Chubb Corporation

Citi reiterated its Hold rating on Chubb Corporation

. At the same time, Citi left its price target on the company's stock unchanged at $64, in spite of lowering its estimates. In a research report published today, Citi states, "Our 2Q11 CAT loss estimate goes to $300M from $250M previously, lowering our 2Q EPS estimate by $0.13/shr to $1.07 and our full year 2011E falls to $5.30 vs $5.43 previously. The overall impact is estimated to be $0.55-$0.68 per share after-tax, however, we had previously accounted for April and smaller May losses in our prior estimates. No change to 2M rating or $64 PT." On Monday, Chubb ended the day at $62.30. Its shares added 0.37% to their value in today's pre-market trading to stand around $62.53.