Deutsche Bank Reiterates Travelers' Sell Rating (TRV)

Deutsche Bank continued to recommend selling shares of Travelers TRV in a research report published today. Deutsche Bank has previously set Travelers' price target at $49. In the report, Deutsche Bank states, "While management has ceased to give EPS guidance, it indicates that it expects both underwriting income and investment income decline next year, while hoping for a trend change in 2012. Prior-year reserve releases led to the 4Q10 beat, but we see this significant leg of earnings as unsustainable." Shares of Travelers were trading at $56.13 at the time of posting, down 0.14% from Tuesday's market close.