BofA analyst Joshua Shanker raised the firm’s price target on Allstate to $145 from $131 and keeps a Buy rating on the shares after rolling the firm’s P/E multiple valuation to 2025. Some investors have argued that Allstate is less strongly capitalized compared with the past, notes the firm, which admits that "this seems true enough," but does not believe the tighter capital is a headwind.
Published first on TheFly
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