Chubb’s Growth Slows Vs. Peers, Analyst Downgrades Despite Stock Surge

BofA Securities analyst Joshua Shanker downgraded Chubb Limited (NYSE:CB) to Underperform from Neutral, while raising the price target to $275 from $264.

The analyst downgraded the stock after a period of strong outperformance (up 29% YTD and 41% over the past year) in CB shares and the broader P&C sector.

The analyst writes that over the past decade, Chubb’s book value per share (BVPS), tangible BVPS, and EPS grew at CAGRs of 7%, 5%, and 10%, respectively—lower than peers despite a premium valuation.

Although growth accelerated to 15%, 17%, and 14% over the last year, it still lagged behind peers as P&C …

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