UPDATE: Keefe, Bruyette & Woods Raises PT On Hartford Financial Services Group On Updated Target Price Methodology

In a report published Friday, Keefe, Bruyette & Woods analyst Vincent DeAugustino reiterated an Outperform rating on

, and raised the price target from $45.50 to $50.00. In the report, Keefe, Bruyette & Woods noted, “Heading into 2015, we're updating our target price methodology to reflect current peer P&C multiples in our sum of the parts analysis, as well as updating our Talcott valuation. Our $50 target price now reflects 18.5% upside, which compares to our prior $45.50 price target. At $50, our price target reflects 1.06x our 2015E BVPS and 12.0x our 2016E EPS.” Hartford Financial Services Group closed on Wednesday at $42.27.