BofA Securities analyst Joshua Shanker maintains $Chubb Ltd (CB.US)$ with a sell rating, and adjusts the target price from $275 to $282.
According to TipRanks data, the analyst has a success rate of 64.4% and a total average return of 11.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Chubb Ltd (CB.US)$'s main analysts recently are as follows:
The expectation is that the third quarter's global catastrophe events will present manageable catastrophe losses for property and casualty insurers. This forecast includes provisional losses for Hurricane Milton in the fourth quarter projections, although there is an acknowledgement of the remaining uncertainty due to the storm's recent landfall. Changes in expectations reflect the events of the quarter and adjustments in P/E multiples.
The fundamental outlook for the property and casualty sector is positive looking forward into the third quarter reports. However, optimistic expectations, bullish sentiment, and current valuations moderate the perspective on the stocks. The continuation of firm pricing and the sector's defensive risk profile stand out as significant positives. On the other hand, the anticipated margins for underwriters and the sales growth expectations for brokers appear to be on the higher side.
Q3 results, especially for reinsurers, might be impacted by the recent Hurricane Milton. The sentiment is more optimistic towards the Personal lines due to enhancing margins and growing policies-in-force. Catastrophe losses for Q3 are anticipated to be below the five-year seasonal average but still notably higher than the same quarter in the previous year, which may pose challenges for primary insurers.
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