Credit: Shutterstock photoInsurance giant The Travelers Companies, Inc. ( TRV ) on Wednesday saw its coverage initiated with an "Outperform" rating by analysts at Credit Suisse.
The firm also set a $59 price target on TRV shares, suggesting a 6.6% upside to the stock's Tuesday closing price of $55.35.
In a note to clients, Credit Suisse said the company is well-leveraged to benefit from better commercial and homeower insurance rates.
Travelers shares were unchanged in premarket trading Wednesday.
The Bottom Line
Shares of Travelers ( TRV ) have a 2.96% dividend yield, based on last night's closing stock price of $55.35. The stock has technical support in the $52 price area. If the shares can firm up, we see overhead resistance around the $58-$59 price levels.
The Travelers Companies, Inc. ( TRV ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.