Travelers falls after Morgan Stanley 'underweight' recommendation

Shares in Travelers fell during trading in New York today after
Morgan Stanley downgraded its view on the stock to underweight.
In Morgan Stanley's 2017 P&C outlook, analysts at the
bank cut their recommendation on Travelers from equal weight to
underweight, citing "concerns on lower reserve releases, auto
margin pressure, and premium valuation".
They maintained their price target for the stock at $110, which
is 9 percent lower than the carrier's $120.25 closing price
yesterday.
Travelers sh