UPDATE: Deutsche Bank Upgrades Chubb Corporation to Buy on Valuation
Deutsche Bank upgraded Chubb Corporation (NYSE: CB) from Hold to Buy and raised the price target from $70.00 to $90.00.
Deutsche Bank commented, "We believe Chubb represents the best value among the traditional large-cap P&C companies. Its shares have significantly lagged peers like ACE and Travelers following both Hurricane Sandy and the temporary suspension of its share repurchase program such that the stock no longer possesses a book valuation multiple premium to its peers. ROE at Chubb remains best-in-class considering both magnitude and stability."
Chubb Corporation closed at $80.31 on Thursday.
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