Travelers Companies was upgraded to outperform from market perform by FBR Capital Markets analyst Randy Binner, who said the recent selloff in the blue-chip insurer's stock has made it more attractive. Binner also raised his stock price target to $119, which is 8.4% above the March 20 record closing high of $109.73, from $107. He believes that his previous concerns about soft market conditions and reserve redundancies are now better reflected in the stock. The stock lost 2.1% since Travelers reported first-quarter results on April 21. The Dow Jones Industrial Average component has lost 1.8% year to date, while the Dow has gained 1.4%.
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