11:00 AM EDT, 05/16/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price by $25 to $302, valuing CB shares at 12.7x our 2025 operating EPS estimate of $23.70 and at 13.9x our 2024 EPS estimate of $21.76, versus a peer average of 14x. CB shares are reacting positively to news Berkshire Hathaway Inc. (BRK.B 415 ****) has acquired some 25.9 million CB shares for around $6.6 billion, making CB a top ten equity holding for Berkshire. While neither firm has commented on the transaction, we note CB stock provides Berkshire's equity portfolio with exposure to one of the best performing financial subgroups. Although we have no indication that this transaction is part of a larger Berkshire plan to acquire Chubb ( CB ), we do note that Chubb's ( CB ) business mix of primarily commercial lines property-casualty coverage and high-end homeowners' coverage dovetails well with Berkshire existing mix of business.