BofA raised the firm’s price target on Allstate to $226 from $213 and keeps a Buy rating on the shares after Q2 results came in ahead of the firm’s forecast and Street consensus. With underwriting margins coming in over 100 basis points better than the firm’s expectations on an underlying basis, BofA is accelerating the pace at which it expects a return to healthy levels of profitability and increasing its earnings forecast through 2026, the analyst tells investors.
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