S&P Capital IQ Reiterates its BUY Rating on Chubb Corporation, Target Price Raised

October 24 00:00 2011

New York, October 24 (RainbowNewsLine.com) – Analyst Cathy Seifert of S&P Capital IQ reiterates her BUY rating on the shares of The Chubb Corporation (NYSE:CB), while reducing her estimates for the company. The target price has been raised from $73 to $75.

Analyst Cathy Seifert, in a research report published on October 22, mentions that the company has reported its Q3 EPS results ahead of the estimates. While applauding the company’s overseas expansion efforts, the analyst says that the company’s top line trends are healthy given the market conditions.  Catastrophe claims of $0.95 impacted the company’s Q3 results whereas the non-catastrophe underwriting trends are deteriorating, the analyst adds.  The EPS estimate for 2011 has been reduced from $5.19 to $5.15.