UPDATE: Deutsche Bank Upgrades Chubb Corporation to Buy, Raises PT
In a report published Friday, Deutsche Bank upgraded its rating on Chubb Corporation (NYSE: CB) from Hold to Buy, and raised its price target from $70.00 to $90.00.
Deutsche Bank noted, “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 on Thursday at $80.31.
Latest Ratings for CB
|Apr 2015||Credit Suisse||Initiates Coverage on||Outperform|
|Mar 2015||Keefe Bruyette & Woods||Maintains||Underperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.