02:10 PM EDT, 03/13/2024 (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 up our 12-month target price by $13 to $135, valuing CINF shares at 19.4x our 2025 operating EPS estimate of $6.95 (raised today by $0.10), and at 21.4x our 2024 EPS estimate of $6.30 (lifted today by $0.10). Our revised target price assumes the shares retain their premium to the peer group average forward multiple of 13x, but remain below their three-year average forward multiple of 22x. CINF's premium valuation (versus peers) has historically been supported by the firm's above-peer level of top-line growth, coupled with underwriting results that have historically been superior to most peers. After struggling to maintinain this level of growth, the firm has regained some of its momentum, and we expect property-casualty earned premiums to rise by 7%-12% in 2024 and by 6%-10% in 2025, following a 10% rise in 2023. These rates of growth are slightly above those expected for the broader property-casualty industry, and we expect them to provide the shares (currently yielding 2.7%) with a catalyst.