UPDATE: Credit Suisse Raises PT on Hartford Financial Services Following 1Q13 Operating Earnings

In a report published Tuesday, Credit Suisse analyst Thomas Gallagher reiterated an Outperform rating on Hartford Financial Services Group

, and raised the price target from $30.00 to $32.00. In the report, Gallagher noted, “We are increasing our 2013 estimate from $3.16 to $3.35 and introducing our $3.60 2014 operating EPS estimate. Although HIG didn't announce any new capital management actions, the comment from HIG's CFO in its press release sounded positive and consistent with the tone from the recent investor day. ‘Talcott Resolution is now capital self-sufficient, the company's capital flexibility is significantly enhanced, and our capital generation outlook is improved. As a result, we are developing the next phase of our 2013 and 2014 capital management plans'.” Hartford Financial Services Group closed on Monday at $27.21.