Allstate price target raised to $233 from $216 at BofA

BofA analyst Joshua Shanker raised the firm’s price target on Allstate (ALL) to $233 from $216 and keeps a Buy rating on the shares. Following September’s catastrophe disclosure, the firm lowered its 2024 EPS estimate 11% to $12.85 while reducing its 2025-26 EPS forecasts by a nickel each, the analyst tells investors. However, the firm raised its price target due to multiple expansion, the analyst explained.