UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on The Travelers Company

In a report published Friday, Deutsche Bank reiterated its Hold rating on The Travelers Company

, and raised its price target from $63.00 to $67.00. Deutsche Bank noted, “The rate actions that Travelers has taken in recent quarters are manifesting in meaningful margin expansion. While we have been concerned that Travelers has been raising rates to outpace losses in workers' compensation and commercial property lines, the continued outsized earnings results show no evidence of this. Double-digit ROEs will be difficult to achieve in 2013 and beyond, but are raising our EPS outlook significantly nonetheless.” The Travelers Company closed on Thursday at $73.94.