Market Overview

UPDATE: JP Morgan Raises PT to $75 on Travelers on Raised Q3 Estimates

Related TRV
Defensive Tuesday For A Stock Market Showered With Hit-Or-Miss Earnings
US Stock Futures Edge Lower Ahead Of Earnings, Housing Starts
Weekly CFO Sales Highlight: Facebook, SS&C Technologies Holdings, Travelers Companies (GuruFocus)

JP Morgan reiterated its Neutral rating on Travelers (NYSE: TRV) and raised its price target from $62 to $75.

JP Morgan said, "We are updating our EPS estimates for Travelers to reflect a number of factors. Specifically, we are raising our 2012 FY EPS estimate by $0.37 to $6.35 to reflect an upward revision to 3Q EPS estimate ($1.49 from $1.13) due to lower than average catastrophe loss experience (we now estimate $90.0 million pretax losses versus $296.7 million previously) and modestly stronger alternatives. In addition, we have raised our average repurchase price assumption, resulting in a slightly higher share count."

Travelers closed at $68.26 on Friday.

Latest Ratings for TRV

Oct 2015CitigroupMaintainsNeutral
Oct 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Sep 2015Sterne Agee CRTInitiates Coverage onNeutral

View More Analyst Ratings for TRV
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (TRV)

Get Benzinga's Newsletters