Aflac price target raised to $122 from $116 at BofA

BofA analyst Joshua Shanker raised the firm’s price target on Aflac (AFL) to $122 from $116 and keeps a Buy rating on the shares. Q4 adjusted EPS of $1.56 fell short of the firm’s forecast of $1.66 and Street consensus of $1.62, but the firm is tweaking its valuation methodology from a 70% discount to 75% of the year-ahead S&P 500 multiple given the company’s “robust levels of capital returns and capital optimization activities,” the analyst tells investors.