Warren Buffett's Chubb Stock Receives Upgrades Following Earnings Beat

Thursday, 31 October 2024, 15:07

CB stock, under Warren Buffett's radar, just received multiple price target upgrades. Chubb Limited's recent earnings surpass expectations, signaling growth potential.
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Warren Buffett's Chubb Stock Receives Upgrades Following Earnings Beat

Warren Buffett's Investment in Chubb Limited

Warren Buffett's interest in Chubb Limited (NYSE: CB) has recently garnered attention as analysts have upgraded their price targets following an earnings beat. The Oracle of Omaha, known for his strategic investments, has increased his holdings by revealing a significant $6.7 billion stake.

Chubb's Recent Earnings Beat

On October 29, Chubb released its Q3 2024 earnings report, showcasing robust performance with an EPS of $5.72, exceeding estimates of $4.93 by 16%. Revenue reached $15 billion, reflecting a 6.5% year-on-year growth.

  • Chubb has achieved six consecutive quarters of beating expectations.
  • Growth sectors include property and casualty underwriting, which grew by 11.7%.
  • Net investment income also rose significantly, by 15.9%.

Revised Price Targets for CB Stock

Following the earnings report, analysts revised their price targets for CB stock:

  1. Matthew Carletti of JMP Securities raised his target to $325 from $300.
  2. David Motemaden from Evercore ISI set a target of $293.
  3. Michael Phillips of Morgan Stanley increased his target to $300 from $295.

These upgrades indicate strong market confidence in Chubb's future growth potential, reflecting Buffett's strategic investment decisions.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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