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Allstate price target raised to $220 from $205 at Raymond James

Allstate price target raised to $220 from $205 at Raymond James

Raymond James analyst C. Gregory Peters raised the firm’s price target on Allstate to $220 from $205 and keeps a Strong Buy rating on the shares. The firm reduced its 2024 EPS to $13.65 from $14.70 to reflect potential catastrophe losses of $1.8B in 3Q24, compared with its previous estimate of $1.4B and trailing 3-year average of $1.1B, and its revised loss estimate implies September catastrophe losses of $950M vs. $575M previously, the analyst tells investors in a research note.

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