0831 ET - Travelers' solid earnings inspire upgrade to overweight from neutral at Piper Sandler, which likes the insurer's personal lines in a tough market. "Excellent margins in commercial lines are probably more sustainable than we once thought," while personal-insurance profits rebound faster than anticipated amid strong underwriting, says Piper. Price increases should keep the momentum rolling, the broker says. Piper says investor anxiety about auto and homeowners insurance belie profit potential there, and Travelers is more tilted to these business lines than most property-and-casualty insurers. Shares rise 1% premarket. (rob.curran@wsj.com)
(END) Dow Jones Newswires
January 24, 2025 08:32 ET (13:32 GMT)
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