BMO Capital Upgrades Travelers (TRV) to Outperform

BMO Capital upgraded Travelers (NYSE: TRV) from Market Perform to Outperform with a price target of $135.00 (from $120.00), saying tax reform and U.S. growth pushes ROtE to 16% in 2018.

Analyst Charles Sebaski commented, "We are upgrading to Outperform from Market Perform and increasing our target price to $135 from $120. We view Travelers as a best in class P&C underwriter that should be a long-term holding for P&C investors. The question is really when to get more involved in the name. On the back of U.S. Tax reform, we see TRV generating an operating EPS CAGR of 13.8% for TRV and a 2018 operating return on tangible equity of 16.1%."

For an analyst ratings summary and ratings history on Travelers click here. For more ratings news on Travelers click here.

Shares of Travelers closed at $119.19 yesterday.

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