Loading...
Loading...
In a report published Friday, Bank of America analyst Jay A. Cohen reiterated a Buy rating on Hartford Financial Services Group
HIG, and raised the price target from $28.00 to $32.00.
In the report, Cohen noted, “Hartford hosted an analyst meeting to discuss its run-off business. The added disclosure, along with a newly announced hedging program for the Japanese variable annuity run-off business, suggests a material reduction of risk in this business. In addition, the company will be entering a new phase of capital management with a greater focus on return of capital to common shareholders, a distinct positive, in our view, given the stock's valuation. We are raising our price objective to $32 from $28 due to a number of changes in our sum-of-the parts analysis.”
Hartford Financial Services Group closed on Thursday at $27.38.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in