NEW YORK (TheStreet) -- Shares of Chubb (CB - Get Report) are up 0.94% to $124.05 Tuesday afternoon as BMO Capital Markets increased its price target on the stock to $134 from $125 and maintained its "outperform" rating.
BMO increased its price target after the Switzerland-based holding company last week reported higher-than-expected 2016 first quarter results.
Chubb posted Q1 operating earnings of $2.26 per share, slightly up year-over-year from earnings of $2.25 per share and beating BMO analysts' expectations of $2.23 per share. The company reported net income of 97 cents per share, down 53% from the 2015 first quarter of $2.05 per share.
"With core underwriting results holding up better than we had initially expected and positive commentary from management on both expense synergies and investments, we now expect capital generation to accelerate from our previous estimates," BMO analysts said in an investor note.
Separately, TheStreet Ratings rated Chubb as a "buy" with a score of A.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.
Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that are rated.
The company's strengths can be seen in multiple areas, such as its revenue growth and solid stock price performance. TheStreet Ratings feels its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: CB