UPDATE: JP Morgan Downgrades Hartford Financial Services to Neutral

Loading...
Loading...
JP Morgan lowers its rating on Hartford Financial Services
HIG
to Neutral from Overweight and lowers its price target by $3 to $22, reflecting the company's low ROE, mixed operating trends and limited capital flexibility. JP Morgan says, " Valuation appears compelling, but we are less confident in management's ability to enhance returns and turn around operating fundamentals. In our view, a sustained low ROE, limited capital flexibility, and poor business trends will preclude material expansion in HIG's P/BV multiple." HIG closed at $17.56 a share yesterday.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsJP Morgan
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...