Insurance giant Travelers Companies' margins could be under pressure as inflation stays elevated, according to Goldman Sachs. Analyst Alex Scott downgraded Travelers Companies to sell from neutral following a recent analysis into life, and property and casualty insurance companies amid rising inflation.
Goldman Sachs also trimmed its price target on the stock to $170 from $190 and reduced earnings per share estimates through 2024. Shares of Travelers have jumped 13.8% this year, but the new price target represents a 4.5% downside from Thursday's close price.
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