Morgan Stanley analyst Bob Huang maintained a Hold rating on Assurant (AIZ – Research Report) yesterday and set a price target of $225.00.
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Bob Huang’s rating is based on a combination of factors surrounding Assurant’s recent performance and future outlook. The Global Housing segment showed impressive results with higher than anticipated premium growth and disciplined underwriting, leading to a significant adjusted EBITDA that surpassed market expectations. However, the Global Lifestyle segment, despite better growth figures, faced higher expenses that resulted in an adjusted EBITDA below consensus estimates.
While Assurant’s guidance indicates strong momentum and the potential for continued growth into 2025, the risks associated with weather-related catastrophes present a notable challenge. The company’s ability to manage these risks effectively will be crucial for maintaining growth and protecting profit margins. These mixed elements of strong performance in some areas and challenges in others likely influenced Bob Huang’s decision to assign a Hold rating.
According to TipRanks, Huang is an analyst with an average return of -1.5% and a 60.82% success rate. Huang covers the Financial sector, focusing on stocks such as Progressive, AFLAC, and Allstate.
In another report released today, KBW also maintained a Hold rating on the stock with a $212.00 price target.