Morgan Stanley lowered the firm’s price target on Aflac (AFL) to $107 from $110 and keeps an Equal Weight rating on the shares following the company’s investor day presentation. Several investors pointed out that Aflac’s margin guidance in both U.S. and Japan were weaker than expected, which likely drove the shares down by about 4% on the day, and while some of the guidance came in better than consensus, the updated margin guidance generally reset expectations lower, the analyst tells investors in a research note.
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