J.P. Morgan Reiterates Overweight Rating On Hartford Financial Services

According to J.P. Morgan, Hartford Financial Services (NYSE:

) Overweight rating is reiterated. J.P. Morgan said that its fundamental outlook for HIG is mixed, but it feels that current valuation overly discounts challenges facing the company. “The resumption of buybacks, increased hedging on the Japan block, and gradual ROE expansion should serve as positive catalysts for the stock.” Hartford Financial Services closed yesterday at $22.34.