Chatfield Dean & Co. Inc. Initiates Coverage on Travelers Group Inc. with a STRONG BUY Recommendation.GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Sept. 11, 1998-- Chatfield Dean & Co. Inc. today initiated coverage on Travelers Group Inc. (NYSE NYSE See: New York Stock Exchange :TRV TRV Technical Remote Viewing TRV Tobacco Rattle Virus TRV Temporary Resident Visa (Canada) TRV Thermostatic Radiator Valve TRV Transient Recovery Voltage TRV Toxicity Reference Value (ecology) ) with a STRONG BUY recommendation. "Travelers stock is an excellent value at current prices, and could provide a short-term annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. return of 38% if our price target of $70 is achieved. Travelers' strong earnings diversification provides confidence in future earnings capability. A decline in underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. revenues and global arbitrage losses for Travelers' Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. unit are expected to be short-term." Research report to follow.
o Current Price: $ 40.13
o Rating: STRONG BUY
o Risk Rating: Growth
o 1998 Earnings Estimates: $ 3.10
o 1999 Earnings Estimates: $ 3.90
o 12-18 Month Price Target: $ 70.00
Analyst: Chris Rahbany CONTACT: Chatfield Dean & Co. Inc., Greenwood Village Chris Rahbany, 303/740-0006 http://www.chatfield.com |
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