Analysts Are Bullish on These Financial Stocks: CB, NRZ

By Ryan Adsit

There’s a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on Chubb Corp (NYSE: CB) and New Residential Inv. (NYSE: NRZ) with bullish sentiments.

Chubb Corp (NYSE: CB)

Barclays analyst Jay Gelb reiterated a Buy rating on Chubb Corp (NYSE: CB) yesterday and set a price target of $139. The company’s shares opened today at $125.63.

Gelb noted:

“We were hoping for a $2bn buyback in 2017, although the company has preferred to keep an excess capital cushion to support expansion opportunities.”

According to TipRanks.com, Gelb is a 5-star analyst with an average return of 9.4% and a 74.3% success rate. Gelb covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Arthur J. Gallagher & Co.

Chubb Corp has an analyst consensus of Moderate Buy, with a price target consensus of $139.

New Residential Inv. (NYSE: NRZ)

In a report released today, Jeremy Campbell from Barclays reiterated a Buy rating on New Residential Inv. (NYSE: NRZ), with a price target of $16. The company’s shares opened today at $14.50, close to its 52-week high of $14.89.

Campbell commented:

“We update our UPB forecasts to better incorporate the WAC deals and we tweaked a few yield assumptions, but the effects of our adjustments were largely offsetting and our EPS estimates are mostly unchanged.”

According to TipRanks.com, Campbell is a 1-star analyst with an average return of -8.2% and a 40.0% success rate. Campbell covers the Financial sector, focusing on stocks such as Fidelity National Financial, First American Corp., and Cherry Hill Mortgage.

Currently, the analyst consensus on New Residential Inv. is Strong Buy and the average price target is $15.50, representing a 6.9% upside.

In a report issued on November 3, JMP Securities also reiterated a Buy rating on the stock.