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Travelers Upgraded to “Buy” at Goldman Sachs (TRV)

Insurance provider The Travelers Companies, Inc. ( TRV ) on Tuesday caught a big upgrade from analysts at Goldman Sachs.

The firm said it boosted its rating on TRV from "Sell" all the way up to "Buy" with a $63 price target. That target suggests a 26% upside to the stock's Monday closing price of $49.90.

A Goldman analyst commented "(1) TRV stands to uniquely benefit from improving trends in small commercial pricing, (2) TRV's stable dividend yield is now 140 bp over the 10-year Treasury, and (3) TRV carries a below-market beta of 0.7, which should provide some stability against a volatile backdrop."

Travelers shares were unchanged in premarket trading Tuesday.

The Bottom Line

Shares of Travelers ( TRV ) have a 3.29% dividend yield, based on last night's closing stock price of $49.90. The stock has technical support in the $45-$46 price area. If the shares can firm up, we see overhead resistance around the $52 price level.

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.

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