Entering text into the input field will update the search result below

Travelers down 1.3% on Goldman downgrade; Allstate and Progressive boosted

Jan. 10, 2017 9:23 AM ETThe Travelers Companies, Inc. (TRV) StockPGR, ALL, TRVBy: Stephen Alpher, SA News Editor
  • Travelers (NYSE:TRV) is lower by 1.3% premarket after a downgrade to Sell from Goldman's Michael Nannizzi. It's the third downgrade in a week for the popular name, which had seen its stock rise as much as about 20% since the election (though it has given back a few points in the new year).
  • Also a nice gainer since the election, Allstate (NYSE:ALL) is upgraded to Buy with $82 price target suggesting 12% upside. Nannizzi thinks Allstate stands to reap more benefit from tax reform than peers. He also has confidence in margin expansion this year thanks to aggressive rate-taking actions turning into a tailwind.
  • Progressive (NYSE:PGR) is lifted to Neutral from Sell. The company is also well-positioned to benefit from tax reform, and the low duration portfolio should work out in a rising interest rate environment. The stock's premium valuation, however, means only a Neutral rating.
  • Source: TheFly

Recommended For You

More Trending News

About TRV Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
TRV--
The Travelers Companies, Inc.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.