Analyst Picks: 1 Insurer to Buy, 1 to Hold, and 1 to Sell

Analyst Picks: 1 Insurer to Buy, 1 to Hold, and 1 to Sell

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking three high-profile Wall Street picks and putting them under the microscope...

Hand it to Goldman Sachs: This analyst knows what it likes -- and what it doesn't. This morning, StreetInsider.com (requires subscription) reported that Goldman Sachs has initiated coverage of the insurance sector, announcing ratings on eight top insurance stocks. We don't have time to cover all of Goldman's picks and pans today, but let's at least survey the first three -- Progressive (NYSE: PGR), American International Group (NYSE: AIG), and Travelers (NYSE: TRV) -- and see if we can figure out why Goldman likes them -- or doesn't.

Here's what you need to know.

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Source: Fool.com